Question
Circuit Corporation has sales for the year of $185,000 and cost of goods sold of $118,400. The firm carries an average inventory of $17,350 and
Circuit Corporation has sales for the year of $185,000 and cost of goods sold of $118,400. The firm carries an average inventory of $17,350 and has an average accounts payable balance of $15,900. What is the inventory period?
34.23 days
49.02 days
51.25 days
53.49 days
58.68 days
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Accounting Information Systems
Authors: Vernon Richardson, Chengyee Chang, Rod Smith
2nd edition
978-1260153156
