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?

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

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 2: Working for average inventory

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Step 3: Working for inventory turnover ratio

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