Jenner Company had beginning inventory of $90,000, ending inventory of $110,000, cost of goods sold of 400,000, and sales of 660,000. Jenner's days in inventory is:

Question

Quizplus · Accepted Answer

Days in Inventory = (Ending Inventory / Cost of Goods Sold) x 365 days

= ($110,000 / $400,000) x 365 days

= 100.75 days

Therefore, Jenner's days in inventory is 91.3 days (rounded to one decimal place).

Jenner Company Had Beginning Inventory of $90,000, Ending Inventory of $110,000