Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Tinker's cost of goods sold in the year of sale (2016) was $800,000 and 2015 cost of goods sold was $820,000 The inventory at the

image text in transcribed Tinker's cost of goods sold in the year of sale (2016) was $800,000 and 2015 cost of goods sold was $820,000 The inventory at the end of 2016 was $193,000 and at the end of 2015 the inventory was $213,000 Tinker's average number of days to sell its inventory during 2016 is closest to: (Use 365 days a year. Do not round intermediate calculations) O90.36 days 92.62 days 88.06 days 94.81 days

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

Recommended Textbook for

Financial and Managerial Accounting

Authors: Belverd E. Needles, Marian Powers, Susan V. Crosson

10th edition

978-1285441979, 1285441974, 978-1133626992, 1133626998, 978-1133940593

More Books

Students also viewed these Accounting questions

Question

what are the pros to using FIFO inventory costing

Answered: 1 week ago