Irawan Company, a retailer, had cost of goods sold of $200,000 last year. The beginning inventory balance was $24,000 and the ending inventory balance was $22,000. The company's average sale period was closest to:

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The average sale period is calculated as (Average Inventory / Cost of Goods Sold) * 365. The average inventory is ($24,000 + $22,000) / 2 = $23,000. Thus, the average sale period is ($23,000 / $200,000) * 365 = 41.98 days.

Irawan Company, a Retailer, Had Cost of Goods Sold of $200,000