The Coffee Hut reported year-end cost of goods sold $20 million. It listed $3 million of inventory on its balance sheet. Using a 365-day year, how many days did the Coffee Hut's inventory stay on the premises? A-63 days B- 54.75 day C- 55.5 days D-20.25 days
The Coffee Hut reported year-end cost of goods sold $20 million. It listed $3 million of inventory on its balance sheet. Using a 365-day year, how many days did the Coffee Hut's inventory stay on the premises? A-63 days B- 54.75 day C- 55.5 days D-20.25 days
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 3RE: Reid Company uses the periodic inventory system. On January 1, it had an inventory balance of...
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The Coffee Hut reported year-end cost of goods sold $20 million. It listed $3 million of inventory on its balance sheet. Using a 365-day year, how many days did the Coffee Hut's inventory stay on the premises? A-63 days B- 54.75 day C- 55.5 days D-20.25 days
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