The Green Corporation has ending inventory of $482,650, and cost of goods sold f

Question

The Green Corporation has ending inventory of $482,650, and cost of goods sold for the year just ended was $4,807,194.

What is the days' sales in inventory? (Use 365 days a year. Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.)

How long on average did a unit of inventory sit on the shelf before it was sold? (Use 365 days a year. Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.)

The Green Corporation has ending inventory of $482,650, and cost of goods sold for the year just ended was $4,807,194.

Explanation / Answer

Statement showing computations Particulars Amount Ending Inventory           482,650.00 Cost of Goods Sold       4,807,194.00 Inventory Turnover = COGS/Ending Inv=4,807,194/482,650                        9.96 Days Sales in Inventory = 365/9.96                      36.65 Days on shelf in inventory 36.65 Days

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