For 2018,Blue Moon had sales of $318,000,cost of goods sold of $249,000,and ending inventory of $138,000.For 2019,sales were $349,000,cost of goods sold were $256,000,and ending inventory was $151,000.What was the inventory period for 2019?

Question

Quizplus · Accepted Answer

Inventory period = (Ending Inventory / Cost of Goods Sold) x 365

For 2019, inventory period = (151,000 / 256,000) x 365 = 215.36 days

Rounded to two decimal places, the inventory period for 2019 is 206.03 days, which is closest to choice D.

For 2018,Blue Moon Had Sales of $318,000,cost of Goods Sold