Multiple Choice
ALT had $25 million in sales last year.Its cost of goods sold was $15 million and its average inventory balance was $3 million.The average days of inventory in the industry is 65 days.What would ALT's average inventory need to be so that it would meet the industry average?
A) $4.45 million
B) $3.65 million
C) $3.33 million
D) $2.67 million
E) $1.54 million
Correct Answer:
Verified
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