Question
Carey's Department Store had net sales of$20 million and cost of goods sold of $ 15.00 m illion for the year. The beginning inventory for
Carey's Department Store had net sales of$20 million and cost of goods sold of $ 15.00 million for the year. The beginning inventory for the year was $5.00 million. The ending inventory for the year was $ 8.00 What was thedays' inventoryoutstanding? (Round any intermediary calculations to two decimal places and your final answer to the nearestday.)
A. 73 DAYS
B. 46 DAYS
C. 158 DAYS
D. 24
DAYS
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Auditing Cases An Active Learning Approach
Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt
2nd Edition
0130674842, 978-0130674845
