Question
A firm has sales of $2,500,000. The cost of goods sold is equal to 65 percent of sales. The firm has an average inventory of
A firm has sales of $2,500,000. The cost of goods sold is equal to 65 percent of sales. The firm has an average inventory of $480,000. How many days on average does it take the firm to sell its inventory?
107.82 days
87.64 days
120.18 days
95.60 days 1
17.20 days
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Corporate Finance Governance And Business Cycles Theory And International Comparisons
Authors: Robert E. Krainer
1st Edition
0444510494, 9780444510495
