The number of days' sales in inventory measures a. the number of days inventory takes to...
The number of days' sales in inventory measures
| a. |
the number of days inventory takes to arrive after ordering |
|
| b. |
the length of time it takes to acquire and receive payment for the inventory |
|
| c. |
the number of days inventory is on hand prior to sale |
|
| d. |
the length of time it takes to acquire, sell, and replace the inventory |
Homework Answers
| The number of days' sales in inventory measures the length of time it takes to acquire, sell, and replace the inventory |
| Number of days' sales in inventory is calculated as: |
| 365 X Average Inventory / Cost of goods sold |
| Option D is correct |
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Inventory turnover and number of days' sales in inventory Financial statement data for years ending December 31 for Tango Company follow: 2047 2046 Cost of goods sold $3,728,475 $4,004,780 Inventories: Beginning of year 788,400 751,900 End of year 868,700 788,400 Required a. Determine the inventory turnover for 2017 and 20Y6. Round to one decimal place. 2047 2046 Inventory turnover b. Determine the number of days' sales in inventory for 2017 and 20Y6. Use 365 days and round to one decimal...
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