Give typing answer with explanation and conclusion The Cape Corporation has ending inventory of $572,344, and cost of goods sold for the yearjust ended was $6,571,459.How long on average did a unit of inventory sit on the shelf before it was sold?(express your answer in "days")

Given: Cost of goods sold = $6,571,459 Ending inventory = $572,344

Answered: The Cape Corporation has ending…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 14EB: If Barcelona Companys ending inventory was actually $122,000, but the cost of consigned goods, with...

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The Cape Corporation has ending inventory of $572,344, and cost of goods sold for the year just ended was $6,571,459. How long on average did a unit of inventory sit on the shelf before it was sold? (express your answer in "days")