Question
In 2022 Georgetown Inc. had a cost of goods sold of $20 million and sales of $30 million. At the end of the year, its
In 2022 Georgetown Inc. had a cost of goods sold of $20 million and sales of $30 million. At the end of the year, its inventory was $4 million and its accounts receivable were $3 million. On average, how many days did the company product spend in inventory before being sold, in 2022?
Step by Step Solution
3.41 Rating (151 Votes )
There are 3 Steps involved in it
Step: 1
To calculate the number of days it took for Georgetown Inc to sell its inventory we need to use the ...
Get Instant Access to Expert-Tailored 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
Financial Management for Public Health and Not for Profit Organizations
Authors: Steven A. Finkler, Thad Calabrese
4th edition
133060411, 132805669, 9780133060416, 978-0132805667
