Question
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
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. 130.7 days
c. 129.2 days
d. 134.2 days
e. None of these are correct.
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Sound Investing, Chapter - Classification Deceit
Authors: Kate Mooney
2nd Edition
0071719385, 9780071719384
