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

question 58

Multiple Choice

Waters Department Store had net credit sales of $16,000,000 and cost of goods sold of $12,000,000 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) 91 days.
• B) 61 days.
• C) 46 days.
• D) 26 days.