Days in Inventory Is Calculated by Dividing 365 Days by

question 25

Multiple Choice

Days in inventory is calculated by dividing 365 days by

• A)average inventory.
• B)beginning inventory.
• C)ending inventory.
• D)the inventory turnover ratio.

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Definitions:

Run Report

The process of generating a summary of data or statistics, typically from a database or software application.

Edit Selection

A feature or function in software that allows users to choose specific portions of text or data to modify or manipulate.

COA

Chart of Accounts, a list of a company's accounts and their account numbers that identifies where transactions are recorded in the financial statements.

Sole Proprietorship

A business owned and operated by a single individual, without any formal legal entity separation.