A business had the following information in its acounts for the year: Net Sales 78360 Cost of goods sold 53310 Gross profit 22050 Inventory at beginning of the year 8660 Inventory at end of year 9500 what was the average days to sell inventory for the year? 5.87 8.75 41.7 41.9 62.2

A business had the following information in its acounts for the year: Net Sales 78360 Cost of goods sold 53310 Gross profit 22050 Inventory at beginning of the year 8660 Inventory at end of year 9500 what was the average days to sell inventory for the year? 5.87 8.75 41.7 41.9 62.2

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

A business had the following information in its acounts for the year: Net

Sales 78360

Cost of goods sold 53310

Gross profit 22050

Inventory at beginning of the year 8660

Inventory at end of year 9500 what was the average days to sell inventory for the year?

5.87

8.75

41.7

41.9

62.2

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