SQC Inc. had sales of $3,000,000, cost of merchandise sold at $2,100,000, an average inventory of $140,000. What is SQC Inc.'s days' sales in inventory? (Round the answer to the nearest whole number.) a. 24 days b. 17 days c. 15 days d. 30 days
SQC Inc. had sales of $3,000,000, cost of merchandise sold at $2,100,000, an average inventory of $140,000. What is SQC Inc.'s days' sales in inventory? (Round the answer to the nearest whole number.) a. 24 days b. 17 days c. 15 days d. 30 days
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 3RE: Reid Company uses the periodic inventory system. On January 1, it had an inventory balance of...
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SQC Inc. had sales of $3,000,000, cost of merchandise sold at $2,100,000, an average
inventory of $140,000. What is SQC Inc.'s days' sales in inventory? (Round the answer
to the nearest whole number.)
a. 24 days
b. 17 days
c. 15 days
d. 30 days
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