Goods available for sale are $29,000; beginning inventory is $8,000; ending inventory is $15,000; and cost of goods sold is $10,000. The days-sales-in-inventory is closest to: (Round any intermediary calculations two decimal places, X.XX, and your final answer to the nearest day.)

Question

Quizplus · Accepted Answer

Days-sales-in-inventory = (Ending inventory / Cost of goods sold) x 365 days= (15,000 / 10,000) x 365 days= 420 days

Goods Available for Sale Are $29,000; Beginning Inventory Is $8,000;