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25 May, 06:02

New products has sales of $913,000 and cost of goods sold of $684,000. the firm had a beginning inventory of $43,000 and an ending inventory of $48,000. what is the length of the inventory period?

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  1. 25 May, 09:22
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    Length of inventory period = Average Inventory / Cost of goods sold * 365 days

    Average Inventory = (Beginning Inventory + Ending Inventory) / 2

    = $45,500

    Length of inventory period = Average Inventory / Cost of goods sold * 365 days

    = $45,500 / $684,000 * 365

    = 24.3 days
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