Garnishes, Inc. has sales for the year of $46,300 and cost of goods sold of $21,700. The firm carries an average inventory of $4,800 and has an average accounts payable balance of $4,400. What is the inventory period?
A) 12.39 days
B) 18.68 days
C) 31.29 days
D) 80.74 days
E) 91.36 days
Correct Answer:
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