Redeker Company had the following records: $\begin{array}{lll}&2022&2021\
\text { Ending inventory } & \$ 32,650 & \$ 30,490 \
\text { Cost of qoods sold } & 213,600 & 209,040
\end{array}$ What is Redeker's average days in inventory for 2022? (rounded)
A)53.7 days
B)56.2 days
C)55.3 days
D)52.1 days

Question

Quizplus · Accepted Answer

Average days in inventory = (Ending inventory + Beginning inventory) / 2 * 365 days / Cost of goods sold= (32,650 + 30,490) / 2 * 365 days / 213,600= 55.3 days