Weller,Inc.provided the following particulars for 2017:

Calculate the average number of days that inventory was held by Weller,Inc.during 2017.(Assume 365 days in a year.Round your intermediate calculations and final answer to two decimal places. )

Question

Weller,Inc.provided the following particulars for 2017:

Calculate the average number of days that inventory was held by Weller,Inc.during 2017.(Assume 365 days in a year.Round your intermediate calculations and final answer to two decimal places. )

Quizplus · Accepted Answer

D)Inventory Turnover:
Cost of goods sold / Average merchandise inventory
1,200,000 / 342,500 = 3.5
Days' sales in inventory: 365 days / Inventory turnover
365 / 3.5 = 104.29

Weller,Inc.provided the Following Particulars for 2017