Days sales in inventory is

a) the number of days it takes to deliver the inventory sold.

b) a measure of how many times the inventory is sold.

c) the number of days it takes to purchase inventory.

d) a measure of the average age of the inventory on hand.

An error in the physical count of goods on hand at the end of a period resulted in a $11400overstatement of the ending inventory. The effect of this error in the current period is

Cost of Goods Sold. Profit

a) understated understated

b) overstated. overstated

c) understated. overstated

d) overstated. understated