Tops had cost of goods sold of $10,821 million, ending inventory of $3,489 million, and average inventory turnover of $2,105 million. Its days' sales in inventory equals:(Use 365 days a year.)
71.0 days
46.7 days
46.4 days
117.7 days
0.3 days

71.0 days

Explanation:

The formula to compute the Days sales in inventory  is shown below

= Total number of days in a year ÷ inventory turnover ratio

where,

Total number of days in a year = 365 days

And, the inventory turnover ratio is

= Cost of goods sold ÷ average inventory

= $10,821 million ÷ $2,105 million

= 5.14 times

So, the days sales in inventory equals to

= 365 days ÷ 5.14 times

= 71.0 days

c

explanation:

c because the item on a bank statement is also referred to as an account statement. in addition, it provides the beginning balance, ending balance, statement date, transaction date for each transaction, payee, customer name and address, statement period, the account holder's account number, and the bank's customer service number