acme company had the following records: 2022 2021 ending inventory $72,650 $40,490 cost of goods sold $413,600 $309,040 What is Acme's average days in inventory for 2022? (rounded) a. 36 days b. 50 days

acme company had the following records: 2022 2021 ending inventory $72,650 $40,490 cost of goods sold $413,600 $309,040 What is Acme's average days in inventory for 2022? (rounded) a. 36 days b. 50 days

Financial Accounting

15th Edition

ISBN:9781337272124

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

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

Chapter17: Financial Statement Analysis

Section: Chapter Questions

Problem 5PEA

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Question

acme company had the following records:

2022 2021

ending inventory $72,650 $40,490

cost of goods sold $413,600 $309,040

What is Acme's average days in inventory for 2022? (rounded)

a. 36 days

b. 50 days

c. 67 days

d. 86 days

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