Irawaddy Company,a retailer,had cost of goods sold of $230,000 last year.The beginning inventory balance was $24,000,and the ending inventory balance was $22,000.The company's average sale period (turnover in days)was closest to which of the following?

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The average inventory is ($24,000 + $22,000) / 2 = $23,000. The inventory turnover ratio is $230,000 / $23,000 = 10. The average sale period is 365 days / 10 = 36.5 days.

Irawaddy Company,a Retailer,had Cost of Goods Sold of $230,000 Last