Wage Garnishers,Inc.has sales for the year of $50,300 and cost of goods sold of $23,700.The firm carries an average inventory of $4,800 and has an average accounts payable balance of $4,400.What is the inventory period?

Name: Wage Garnishers,Inc.has sales for the year of $50,300 and cost of goods sold of $23,700.The firm carries an average inventory of $4,800 and has an average accounts payable balance of $4,400.What is the inventory period?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Days in inventory = 365/($23,700/$4,800) = 73.92 days