Solution-Determine the average day inventory for zcc

Determine the average day inventory for zcc

Reference no: EM133073155

Question - Zakaryan Confections, Co. (ZCC) reported the following financial data for 2018 and 2017:

	2018	2017
Sales	$305,000	$284,000
Sales returns and allowances	9,000	6,000
Net sales	$296,000	$278,000
Cost of goods sold:
Inventory, January 1	43,000	36,000
Net purchases	152,000	146,000
Goods available for sale	195,000	182,000
Inventory, December 31	57,000	43,000
Cost of goods sold	138,000	139,000
Gross profit	$158,000	$139,000?

Required - Determine the average day's inventory for ZCC (rounded) for 2018?

Reference no: EM133073155

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Determine the average day inventory for zcc

Reference no: EM133073155

Reference no: EM133073155

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