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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

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter6: Cost Of Goods Sold And Inventory
Section: Chapter Questions
Problem 27CE: Inventory Analysis Singleton Inc. reported the following information for the current year: Required:...
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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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