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Compute average inventory days outstanding for willamette

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Reference no: EM132971161

Note 3 to the 2013 financial statements of Willamette Valley Vineyards reports that Inventories consist of the following:

                                                                  2013                           2012
Winemaking and packaging materials      $ 732,909             $ 454,612
Work-in-process                                  4,099,224               3,891,754
Finished goods                                      5,001,179              4,880,518
Total inventories                                    $ 9,833,312               $ 9,226,884

Problem 1: The company reported cost of goods sold of $5,588,439 in 2013 and $5,253,336 in 2012. Compute average inventory days outstanding for both years. What does this ratio mean? Interpret the ratios.

Reference no: EM132971161

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