Question
A firm has sales of $710,000. The cost of goods sold is equal to 57 percent of sales. The firm has an average inventory of
| A firm has sales of $710,000. The cost of goods sold is equal to 57 percent of sales. The firm has an average inventory of $23,940. How many days on average does it take the firm to sell its inventory? a. 12.31 days b. 16.90 days (*picked and was wrong answer*) c. 15.29 days d. 21.59 days e. 10.77 days |
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Fundamentals of Financial Management
Authors: Eugene F. Brigham
Concise 9th Edition
1305635937, 1305635930, 978-1305635937
