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20 April, 08:41

Galaxy Sales has sales of $938,300, cost of goods sold of $764,500, and inventory of $123,600. How long on average does it take the firm to sell its inventory?

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  1. 20 April, 09:20
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    Answer: 59 days

    Explanation:

    Given dа ta:

    Sales = $938,300.

    cost of goods sold = $764,500.

    inventory = $123,600.

    Therefore:

    How long does it take the firm to sell of it inventory.

    Days available for sales in a year = 365

    = 365 / ($764,500 / $123,600)

    = 365 / 6.185

    = 59.01 days

    It would take the firm approximately 59 days to sell of it inventory.
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