Question
A company has an inventory period (i.e. days in inventory) of 107 days, computed using the average inventory and the cost of goods sold. The
A company has an inventory period (i.e. days in inventory) of 107 days, computed using the average inventory and the cost of goods sold. The beginning inventory balance is $9,070, and the cost of good sold is $53,920. If the year has 365 days, what is the ending inventory balance?
Options:
|
| $21,980 |
|
| $22,543 |
|
| $23,107 |
|
| $23,671 |
|
| $24,234 |
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Financial Management Principles And Applications
Authors: Sheridan Titman, Arthur Keown, John Martin
13th Global Edition
1292222182, 978-1292222189
