The Average Days' Supply in Inventory Is Computed by Dividing

question 22

True/False

The average days' supply in inventory is computed by dividing the days in the year by the ending balance of inventory.

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Definitions:

Fund

A pool of money set aside for a specific purpose or allocated for investing in various assets.

Interest

The cost of borrowing money or the return on investment, usually expressed as a percentage of the principal.

Define

to explain the meaning of a word or phrase.

Annual Interest

The amount of interest due per year as a percentage of the amount loaned, deposited, or borrowed.