Question
A company has $74,000 in inventory at the beginning of the accounting period and $67,000 at the end of the accounting period. Sales revenue is
A company has $74,000 in inventory at the beginning of the accounting period and $67,000 at the end of the accounting period. Sales revenue is $1,199,500, cost of goods sold is $753,500, and net income is $146,700 for the accounting period. On average, the number of days to sell inventory is approximately:
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Auditing A Business Risk Approach
Authors: Larry E. Rittenberg, Karla Johnstone, Audrey Gramling
7th Edition
0324663722, 978-0324663723
