Carey's Department Store had net sales of $20 million and cost of goods sold of $17.00 million for the year. The beginning inventory for the year was $3.00 million. The ending inventory for the year was $12.00 million. What was the days Inventory outstanding? (Round any intermediary calculations to two decimal places and your final answer to the nearest day.) OA 30 days OB. 122 days OC. 161 days
Carey's Department Store had net sales of $20 million and cost of goods sold of $17.00 million for the year. The beginning inventory for the year was $3.00 million. The ending inventory for the year was $12.00 million. What was the days Inventory outstanding? (Round any intermediary calculations to two decimal places and your final answer to the nearest day.) OA 30 days OB. 122 days OC. 161 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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