Thomas Company Provided the Following Particulars for Year 2015 -Refer to the Table Above

question 78

Short Answer

Thomas Company provided the following particulars for year 2015: $$\begin{array} { | l | r | } \hline \text { Cost of Goods Sold (Cost of sales) } & \$ 1,800,000 \\\hline \text { Beginning Merchandise Inventory } & 325,000 \\\hline \text { Ending Merchandise Inventory } & 650,000 \\\hline\end{array}$$
-Refer to the table above.Calculate the average number of days that inventory was held by Thomas Company during 2015. (Assume 365 days in a year. Round your intermediate calculations and final answer to two decimal places.)

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Definitions:

Underinvestment

Underinvestment occurs when a company or individual invests less than what is necessary to achieve optimal growth or returns.

Wasteful Spending

This refers to the unnecessary or excessive use of funds.

Corporate Valuation Model

Defines the total value of a company as the value of operations plus the value of nonoperating assets plus the value of growth options.

Pro Forma

Financial statements or projections based on hypothetical scenarios or certain assumptions to forecast future performance.