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The year-end financial statements of Collette Inc. reported the following information (in thousands): Year 2 Year 1 Cost of sales $1,593,267 $1,606,003 Inventories, net
The year-end financial statements of Collette Inc. reported the following information (in thousands): Year 2 Year 1 Cost of sales $1,593,267 $1,606,003 Inventories, net 585,764 546,745 LIFO reserve 4,345 4,094 The year 2 average days inventory outstanding is: Select one: a. 129.7 days b. 129.2 days c. 134.2 days d. 130.7 days e. None of these are correct.
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Accounting Principles
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
12th edition
1119132223, 978-1-119-0944, 1118875052, 978-1119132226, 978-1118875056
