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Cost Line Medi Supplier (CLMS) had in the year 2019, a total of RM10.9 million in sales. CLMS cost of goods sold was amounted to
Cost Line Medi Supplier (CLMS) had in the year 2019, a total of RM10.9 million in sales. CLMS cost of goods sold was amounted to RM4.36 million, and its regular inventory balance was RM 1.77 million. i) Calculate the average number of days inventory outstanding ratios for CLMS. (2 marks) ii). The average days of inventory for the whole industry is 73 days. By how much would CLMS need to reduce its investment in inventory in order for it to improve its inventory days to meet the industry average
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