Redeker Company Had the Following Records $\begin{array}{lll}&2017&2016\\\text { Ending inventory } & \$ 32,650 & \$ 30,490 \\\text { Cost of goods sold } & 213,600 & 209,040\end{array}$

question 65

Multiple Choice

Redeker Company had the following records: $\begin{array}{lll}&2017&2016\\\text { Ending inventory } & \$ 32,650 & \$ 30,490 \\\text { Cost of goods sold } & 213,600 & 209,040\end{array}$ What is Redeker's average days in inventory for 2017? (rounded)

• A)53.7 days
• B)56.2 days
• C)55.3 days
• D)52.1 days

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Definitions:

AASB 133

Refers to the Australian Accounting Standards Board standard on Earnings per Share, outlining how to calculate and present earnings per share in financial statements.

Publicly Traded

Refers to companies or securities that are available for buying and selling on the public stock exchanges.

Time-weighting Factor

A calculation used to adjust the influence of specific data points in an averaging or forecasting method based on their occurrence in time.

Ordinary Shares

Shares of a company that entitle the holder to dividends as declared and give them voting rights in company meetings.