Barnett Company had the following records: $\begin{array}{lll}&2022&2021\
\text { Ending inventory } & \$ 32,650 & \$ 30,490 \
\text { Cost of qoods sold } & 306,300 & 313,600
\end{array}$ What is Barnett's average days in inventory for 2022? (rounded)
A)37.6 days
B)38.8 days
C)36.9 days
D)36.5 days

Question

Quizplus · Accepted Answer

Average days in inventory = (Ending inventory + Beginning inventory) / 2 * 365 days / Cost of goods sold= (32,650 + 30,490) / 2 * 365 days / 306,300= 31,570 / 306,300 * 365 days= 37.6 days (rounded)