Dabble, Inc. has sales of $981,000 and cost of goods sold of $641,000. The firm had...
Dabble, Inc. has sales of $981,000 and cost of goods sold of
$641,000. The firm had a beginning inventory of $36,500 and an
ending inventory of $46,500.
What is the length of the days’ sales in inventory?
(
Homework Answers
Length of Day's Sales Inventory = 365 / [ Cost of Goods sold / Avg Inventory ]
Avg Inventory =[ Beggining Inventory + Ending Inventory] / 2
= [ 36500 + 46500 ] / 2
= 41500
Length of Day's Sales Inventory = 365 / [ Cost of Goods sold / Avg Inventory ]
= 365 / [ 641000 / 41500 ]
= 365 / 15.45
= 23.63 Days
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