Question
The year-end financial statements of Collette, Inc. reported the following information (in thousands): Year 2 Year 1 Cost of sales $1,441,527 $1,453,051 Inventories, net 585,764
The year-end financial statements of Collette, Inc. reported the following information (in thousands):
|
| Year 2 | Year 1 |
| Cost of sales | $1,441,527 | $1,453,051 |
| Inventories, net | 585,764 | 546,745 |
| LIFO reserve | 4,345 | 4,094 |
The Year 2 average days inventory outstanding is:
A) 148.3 days
B) 143.4 days
C) 142.8 days
D) 144.4 days
E) None of these are correct.
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Options Futures And Other Derivatives
Authors: John Hull
9th Global Edition
1292212896, 9781292212890
