Saw Ltd's Inventory at 30 June 2016 It Was $20

question 23

Multiple Choice

Saw Ltd's inventory at 30 June 2016 it was $20 000.Sales for the year ended 30 June 2016 were $125 000 and the gross margin was 20 per cent.
-What was the number of days' inventory on hand?

• A) 73 days
• B) 69.5 days
• C) 64 days
• D) 50 days

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Definitions:

Accumulated Depreciation

The total amount by which an asset's carrying value has been reduced over time to reflect wear and tear, obsolescence, or impairment.

Commercial Refrigerator

A refrigerator designed for commercial use with greater capacity and robustness for storing larger quantities of perishable goods, often found in restaurants and grocery stores.

Donated Goods

Items given without expectation of payment, often to charities or non-profit organizations.

Stewardship Reporting

The process of reporting on the management and accountability of resources entrusted to one's care, emphasizing the responsibility to safeguard and efficiently use assets.