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Calculate the average number of days in inventory

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Reference no: EM132580560

Garrett Company provided the following financial information:

Inventory balance as of 1/1/2017               $110,000

Inventory balance as of 12/31/2017            $120,000

Net Credit Sales for the year 2017               $920,000

Cost of Goods Sold for the year 2017           $460,000

Question 1: Calculate the average number of Days in Inventory.

Option 1: 91.25 days

Option 2: 4.00 days

Option 3: 1.00 days

Option 4: 365.00 days

Reference no: EM132580560

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