Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Cloche's Hats had sales for the year of $697,100 and cost of goods sold equal to 58 percent of sales. The inventory at the beginning
Cloche's Hats had sales for the year of $697,100 and cost of goods sold equal to 58 percent of sales. The inventory at the beginning of the year was $126,700 and the end-of-year inventory was $143,600. What was the company's inventory period? Assume 365 days in a year. Multiple Choice 122.01 davs 129.64 days 111.20 days 114.38 days 108.03 days
Cloche's Hats had sales for the year of $697,100 and cost of goods sold equal to 58 percent of sales. The inventory at the beginning of the year was $126,700 and the end-of-year inventory was $143,600. What was the company's inventory period? Assume 365 days in a year.
Multiple Choice
122.01 davs
129.64 days
111.20 days
114.38 days
108.03 days
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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