A company began the year with $50,000 in inventory and ended the year with $70,000 in inventory.
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A company began the year with $50,000 in inventory and ended the year with $70,000 in inventory. Cost of goods sold for the year amounted to $720,000. Assuming 360 days in a year, how long, on average, does it take the company to sell its inventory?
a. 12 days
b. 30 days
c. 60 days
d. none of the above
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Related Book For 
Financial Accounting The Impact On Decision Makers
ISBN: 9780324655230
6th Edition
Authors: Gary A. Porter, Curtis L. Norton
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