[The following information applies to the questions displayed below.]
Given below are comparative balance sheets and an income statement for Eleva Corporation.
All sales were made on account.Cash dividends declared during the year totaled $22,984.
-Eleva Corporation's days to sell the average inventory for 2018 is:
A)91.5 days.
B)67.3 days.
C)94.0 days.
D)125.4 days.

Question

[The following information applies to the questions displayed below.]
Given below are comparative balance sheets and an income statement for Eleva Corporation.
   All sales were made on account.Cash dividends declared during the year totaled $22,984.
-Eleva Corporation's days to sell the average inventory for 2018 is:
A)91.5 days. 
B)67.3 days. 
C)94.0 days. 
D)125.4 days.

Quizplus · Accepted Answer

The days to sell average inventory is calculated as (365 days / Inventory Turnover Ratio). The correct answer is based on the given options and calculations.

[The Following Information Applies to the Questions Displayed Below