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Compute the Days-in-Inventory for the Year End Dec-31-2016, given the Following; Cost of Goods Sold for 12-31-2016 =150,000 Cost of Goods Sold for 12312015=200,000 Ending
Compute the Days-in-Inventory for the Year End Dec-31-2016, given the Following; Cost of Goods Sold for 12-31-2016 =150,000 Cost of Goods Sold for 12312015=200,000 Ending Inventory 12312016=60,000 Ending Inventory 12312015=20,000 Sales Revenues 12-31-2016 =$750,000 Sales Revenues 12-31-2015 =$900,000 Inventory Turnover Ratio = COGS / Average Inventory Days-in-Inventory =365/ Inventory Turnover Ratio None of These Choices 97 Days 48 Days 49 Days 146 Days
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