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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
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