191k views
5 votes
Crane Corporation's computation of cost of goods sold is:

Beginning inventory $34800
Add: Cost of goods purchased 470000
Cost of goods available for sale 504800
Less: Ending inventory 72000
Cost of goods sold $432800

The average days to sell inventory for Fry are:________

1 Answer

1 vote

Answer:

16.64 days

Step-by-step explanation:

Given the above information, we will calculate the average days to sell inventories with the formula below;

Average days to sell inventories = [Ending inventory / Cost of goods sold] × 100

Ending inventory = $72,000

Cost of goods sold = $432,800

Then, Average days to sell inventories

= [$72,000 / $432,800] × 100

= 16.64 days

Therefore, the average days to sell inventory for Fry are 16.64 days

User Pietro Saccardi
by
4.7k points