Question
A company had cost of goods sold of $5,500,000, ending inventory of $1,300,000, and average inventory of $890,000. Calculate the companys days' sales in inventory.
- A company had cost of goods sold of $5,500,000, ending inventory of $1,300,000, and average inventory of $890,000. Calculate the companys days' sales in inventory.
Round your final answer to the nearest whole number.
In order to earn partial credit, display your work in detail.
Describe the mean of this calculation and how management uses this calculation for internal planning purposes.
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Practical Guide To Accountancy
Authors: Ajit Kumar Chattopadhyay, Amalendu Mukhopadhyay
1st Edition
1642874264, 9781642874266
