Based on the following information, how many days of supply of inventory is the firm holding (assume 250 days of operation per year)? Interpret your answer if the industry average inventory days supply is 30 days.
Sales .............................. $8,300,000
Cost of goods sold .............. $7,200,000
Gross profit...................... $1,100,000
Overhead costs .................. $ 600,000
Net profit........................... $500,000
Total inventory................... $2,600,000
Fixed assets...................... $3,000,000
Long-term debt.................. $2,700,000