ABC Inc. provided the following data for the current year: Cost of goods sold $4,680,000 Inventory at the beginning of the year 678,000 Inventory at the end of the year 570,000 What is ABC Inc.'s days' sales in inventory?

ABC Inc. provided the following data for the current year: Cost of goods sold $4,680,000 Inventory at the beginning of the year 678,000 Inventory at the end of the year 570,000 What is ABC Inc.'s days' sales in inventory?

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 11E

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pvn.1

ABC Inc. provided the following data for the current year: Cost of goods sold $4,680,000 Inventory at the
beginning of the year 678,000 Inventory at the end of the year 570,000 What is ABC Inc.'s days' sales in
inventory?

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Step 3: Working for inventory turnover ratio

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