cammac7016 cammac7016

20-10-2020
Business

contestada

had $35 million in sales last year. Its cost of goods sold was $25 million and its average inventory balance was $3 million. What was its average days of inventory

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topeadeniran2 topeadeniran2

20-10-2020

Answer: 43.8 days

Explanation:

Average days of school inventory can be calculated as:

= Average inventory balance/(Cost of goods sold/365)

= $3million/($25 million/365)

= $3 million/$68493.15

= 43.8 days

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