A Co had sales of $220,000 and purchases of$160,000, together with opening inventory and closing inventory of $24,000 and $20,000 respectively. What was inventory holding period in days (based on the average level of inventory for the period)? A 44.5 days В 22.2 days 53.4 days D 49.0 days

A Co had sales of $220,000 and purchases of$160,000, together with opening inventory and closing inventory of $24,000 and $20,000 respectively. What was inventory holding period in days (based on the average level of inventory for the period)? A 44.5 days В 22.2 days 53.4 days D 49.0 days

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 46E

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Question

A Co had sales of $220,000 and purchases of$160,000, together with opening inventory and
closing inventory of $24,000 and $20,000 respectively.
What was inventory holding period in days (based on the average level of inventory for
the period)?
A
44.5 days
22.2 days
53.4 days
D
49.0 days

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