The Cape Corporation has ending inventory of $483,824, and cost of goods sold fo
ID: 2630253 • Letter: T
Question
The Cape Corporation has ending inventory of $483,824, and cost of goods sold for the year just ended was $4,233,460.
What is the days' sales in inventory? (Use 365 days a year. Round your answer to 2 decimal places. (e.g., 32.16))
How long on average did a unit of inventory sit on the shelf before it was sold? (Use 365 days a year. Round your answer to 2 decimal places. (e.g., 32.16))
The Cape Corporation has ending inventory of $483,824, and cost of goods sold for the year just ended was $4,233,460.
Explanation / Answer
he Cape Corporation has ending inventory of $483,824, and cost of goods sold for the year just ended was $4,233,460.
What is the days' sales in inventory? (Use 365 days a year. Round your answer to 2 decimal places. (e.g., 32.16))
How long on average did a unit of inventory sit on the shelf before it was sold? (Use 365 days a year. Round your answer to 2 decimal places. (e.g., 32.16))
What is the inventory turnover? (Round your answer to 2 decimal places. (e.g., 32.16))