Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Kelley, Inc. provided the following account balances for 2024 Cost of Goods Sold (Cost of sales) Beginning Merchandise Inventory Ending Merchandise Inventory $1,300,000 330,000 640.000

Kelley, Inc. provided the following account balances for 2024 Cost of Goods Sold (Cost of sales) Beginning Merchandise Inventory Ending Merchandise Inventory $1,300,000 330,000 640.000 Calculate the average number of days that inventory was held by Kelley Inc during 2024 (Assume 365 days in a year. Round your intermediate calculations and final answer to two decimal places)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

=+3. What benefits can you offer this public?

Answered: 1 week ago

Question

What are the determinants of cash cycle ? Explain

Answered: 1 week ago

Question

e. What do you know about your ethnic background?

Answered: 1 week ago

Question

b. Why were these values considered important?

Answered: 1 week ago