Question
30. The following information was obtained from the accounting records of the Freye Company for 2008: Cost of Goods Sold $3,900,000 Merchandise Inventory: January 1
30. The following information was obtained from the accounting records of the Freye Company for 2008:
Cost of Goods Sold $3,900,000
Merchandise Inventory:
January 1 300,000
December 31 360,000
Assuming a business year consisting of 365 days, what was Freye's number of days' sales in inventories for 2008?
a. 30.9 days
b. 43.6 days
c. 40.6 days
d. 36.7 days
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Cost Management A Strategic Emphasis
Authors: Edward Blocher, Kung Chen, Thomas Lin
1st Edition
0070059160, 978-0070059160
