Misty Mountain Outfitters is a merchandiser of specialized fly fishing gear. Its cost of goods sold for Year 2 was $1,838,600, and sales were $2,831,300. The amount of merchandise on hand was $489,000, and total assets amounted to $2,924,200. What is the average number of days to sell inventory? (Do not round your intermediate calculations. Use 365 days in a year. Round to the nearest day.)

Question

Quizplus · Accepted Answer

Average number of days to sell inventory = (Merchandise on hand / Cost of goods sold) * 365 days= (489,000 / 1,838,600) * 365 days= 97 days

Misty Mountain Outfitters Is a Merchandiser of Specialized Fly Fishing