Beginning Inventory Is $42,000 and Ending Inventory Is $58,000

question 3

Multiple Choice

Beginning inventory is $42,000 and Ending inventory is $58,000.Cost of goods sold is $600,000.Calculate days in inventory.

• A) 30.4
• B) 25.6
• C) 135.3
• D) 3.4

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Definitions:

Business Relationship

A connection between individuals or organizations engaged in commercial or professional interactions.

Contractual Relationship

A legal binding between two or more parties, enforceable by law, involving mutual obligations.

Conversion

Conversion involves changing something from one form or use to another, such as converting a residential building into a commercial space or changing currencies.

Trespass To Personal Property

The unlawful taking or harming of another’s personal property; interference with another’s right to the exclusive possession of his or her personal property.