Glentel has sales of $2,780,000. The cost of goods sold is equal to 68 percent of...

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Glentel has sales of $2,780,000. The cost of goods sold is equal to 68 percent of...

Glentel has sales of $2,780,000. The cost of goods sold is equal to 68 percent of sales. The company has an average inventory of $350,000. How many days on average does it take the company to sell its inventory?

		51.32 days
		98.12 days
		87.40 days
		65.46 days
		79.12 days

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Answer 1

Answer #1

COGS =68%*Sales =68%*2780000=1890400
Average Inventory =350000
Average inventory days =365/(COGS/Inventory)=365/(1890400/350000) =67.58
Option d is correct option as it is closest value

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Answer 2

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