Misty Mountain Outfitters Is a Merchandiser of Specialized Fly Fishing

question 51

Multiple Choice

Misty Mountain Outfitters is a merchandiser of specialized fly fishing gear.Its cost of goods sold for 2016 was $295,000,and sales were $690,000.The amount of merchandise on hand was $50,000,and total assets amounted to $585,000.Using this information,which of the following answers correctly states the average days in inventory ratio? Round to the nearest day.

• A)26 days
• B)62 days
• C)31 days
• D)40 days

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