Majik Carpet Company sells its carpet inventory using a perpetual inventory system. Its inventory opening balances, purchases and sales activity for the month of June, 2020 follows:
Majik Carpet uses the specific identification method when assigning costs to ending inventory.
-Provide calculations to find how many days it will take to convert inventory on hand into cash.

Question

Majik Carpet Company sells its carpet inventory using a perpetual inventory system. Its inventory opening balances, purchases and sales activity for the month of June, 2020 follows:
  Majik Carpet uses the specific identification method when assigning costs to ending inventory.
-Provide calculations to find how many days it will take to convert inventory on hand into cash.

Quizplus · Accepted Answer

The Answer of Majik Carpet Company sells its carpet inventory using a perpetual inventory system. Its inventory opening balances, purchases and sales activity for the month of June, 2020 follows:
  Majik Carpet uses the specific identification method when assigning costs to ending inventory.
-Provide calculations to find how many days it will take to convert inventory on hand into cash.

Majik Carpet Company Sells Its Carpet Inventory Using a Perpetual