0of 30 Refer to the following sel from Graceworks Corp Compu

0(of 30) Refer to the following sel from Graceworks, Corp. Compute 280,000 262 500 477,400 424,100 Cost of goods sold O 2007 O 2197 O 2410 O 2141 O 225.9

Solution

Ans 214.1

Days Sales in Inventory = 365 / Inventory Turnover Ratio

= 365/ 1.705

= 214.1

Inventory Turnover Ratio = Cost of Goods Sold / Closing Inventory

= Cost of Goods Sold / Closing Inventory

= 477400 / 280000

= 1.705