Carey's Department Store Had Net Sales of $20 Million and Cost

question 98

Multiple Choice

Carey's Department Store had net sales of $20 million and cost of goods sold of $13 million for the year. The beginning inventory for the year was $4 million. The ending inventory for the year was $6 million. What was the days' inventory outstanding? (Round any intermediary calculations to two decimal places and your final answer to the nearest day.)

• A)28 days
• B)91 days
• C)140 days
• D)61 days

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