A company has $72,500 in inventory at the beginning of the accounting period and $65,500 at the end of the accounting period. Sales revenue is $986,400, cost of goods sold is $572,700, and net income is $124,200 for the accounting period. On average, this company has inventory on hand for approximately: Multiple Choice 203 days. 44 days. 61 days. 26 days.

A company has $72,500 in inventory at the beginning of the accounting period and $65,500 at the end of the accounting period. Sales revenue is $986,400, cost of goods sold is $572,700, and net income is $124,200 for the accounting period. On average, this company has inventory on hand for approximately: Multiple Choice 203 days. 44 days. 61 days. 26 days.

Name: A company has $72,500 in inventory at the beginning of the accounting
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Description: A company has $72,500 in inventory at the beginning of the accounting period and $65,500 at the end of the accounting period. Salesrevenue is $986,400, cost of goods sold is $572,700, and net income is $124,200 for the accounting period. On average,

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter7: Inventories

Section: Chapter Questions

Problem 8PEB: Financial statement data for years ending December 31 for Tango Company follow: a. Determine the...

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