Question
Glentel has sales of $2,780,000. The cost of goods sold is equal to 68 percent of sales. The company has an average inventory of $350,000.
Glentel has sales of $2,780,000. The cost of goods sold is equal to 68 percent of sales. The company has an average inventory of $350,000. How many days on average does it take the company to sell its inventory?
| 51.32 days | ||
| 98.12 days | ||
| 87.40 days | ||
| 65.46 days | ||
| 79.12 days |
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Entrepreneurial Finance
Authors: Steven Rogers
4th Edition
1260461440, 978-1260461442
