Homework Answers
Answer is 45.6 days
Average inventory = (Ending inventory + Beginning inventory) /
2
Average inventory = ($90,000 + $60,000) / 2
Average inventory = $75,000
Days in inventory = 365 * Average inventory / Cost of goods
sold
Days in inventory = 365 * $75,000 / $600,000
Days in inventory = 45.6 days
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1.
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2.
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terms 2/10, n/30, on September 10. On September 13, Howard returned
goods costing $400. On September 18, Jordan received payment from
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