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23 Nov 2019

Mumford and Sons' cost of goods sold (COGS) average $2,000,000 per month, and it keeps inventory equal to 42.74% of its monthly COGS on hand at all times. Using a 365-day year, what is its inventory conversion period?

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Nelly Stracke
Nelly StrackeLv2
30 Apr 2019
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show work for better rating....On average, a firm sells $2,500,000 in merchandise a month. Its cost of goods sold equals 80 percent of sales, and it keeps inventory equal to one-half of its monthly cost of goods on hand at all times. If the firm analyzes its accounts using a 360-day year, what is the firm's inventory conversion period? a. 360 days b. 180 days c. 30 days d. 15 days e. 10 days

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