The following information was obtained from the accounting records of the Freye Company for 2008:...
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Accounting
The following information was obtained from the accounting records of the Freye Company for 2008:
Cost of Goods Sold $3,600,000
Merchandise Inventory:
January 1 400,000
December 31 460,000
Assuming a business year consisting of 365 days, what was Freye's number of days' sales in inventories for 2008?
a. 46.6 days
b. 43.6 days
c. 40.6 days
d. 36.7 days
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