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Scribble, Inc. has sales of $86,000 and cost of goods sold of $70,000. The firm had a beginning inventory of $16,000 and an ending inventory
Scribble, Inc. has sales of $86,000 and cost of goods sold of $70,000. The firm had a beginning inventory of $16,000 and an ending inventory of $18,000. What is the length of the days' sales in inventory?
83.43 days
67.91 days
93.86 days
76.40 days
I keep getting 88.6428571429 using [17,000/70,000]*365. What am I doing wrong and what is the correct answer. Thanks!
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