Wagon Department Store Had Net Credit Sales of $16,000,000 and Cost

question 129

Multiple Choice

Wagon Department Store had net credit sales of $16,000,000 and cost of goods sold of $15,000,000 for the year.The average inventory for the year amounted to $2,000,000.
-The average number of days in inventory during the year was

• A)365 days.
• B)48.7 days.
• C)46 days.
• D)30 days.

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Definitions:

City-State

An independent, self-governing city.

Sumerians

An ancient civilization that developed in Mesopotamia (modern-day Iraq) around 4500 BCE, known for creating one of the world's first writing systems, cuneiform.

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An Iranian dynasty that ruled from 224 to 651 AD, known for its significant cultural, architectural, and artistic achievements.