Calculate the days' sales in inventory for 2019. (Use 365 days for any calculations. Round any intermediate calculations and your final answer to two decimal places.)
Ottawa, Inc. provides the following data:
For the year ending December 31, 2019:
A) 82.95
B) 182.50
C) 60.83
D) 132.73
D) 132.73
Inventory turnover ratio = Cost of Goods Sold / Average Merchandise Inventory =
$110,000 / [(55,000 + 25,000) / 2] = $110,000 / $40,000 = 2.75 times
Days' sales in inventory = 365 / Inventory turnover ratio = 365 / 2.75 = 132.73
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