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
Correct Answer:
Verified
Correct Answer:
Verified
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