Assume that the net sales for a company is $5,000, cost of goods sold is $3,000, and average inventory is $1,500 . Calculate the number of days' sales in inventory
a. 145
b. 274
c. 110
d. 183
d
FEEDBACK: a. Incorrect. The number of days' sales in inventory is 183 (365/2)
b. Incorrect. The number of days' sales in inventory is 183 (365/2)
c. Incorrect. The number of days' sales in inventory is 183 (365/2)
d. Correct.
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