Tinkers cost of goods sold in the year of sale (2016) was $760,000 and 2015...

90.2K

Verified Solution

Question

Accounting

Tinkers cost of goods sold in the year of sale (2016) was $760,000 and 2015 cost of goods sold was $780,000. The inventory at the end of 2016 was $189,000 and at the end of 2015 the inventory was $209,000. Tinkers average number of days to sell its inventory during 2016 is closest to: (Use 365 days a year. Do not round intermediate calculations.)

95.57 days

97.8 days

90.77 days

93.12 days

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students