Solution-Determine the number of days in inventory

Determine the number of days in inventory

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Question - The following financial information is for Chesapeake Corporation are for the fiscal years ending 2018 & 2017 (all balances are normal):

Item/Account	2018	2017
Cash	$35,000	$24,000
Accounts Receivable	56,000	52,000
Inventory	48,000	40,000
Current Liabilities	76,000	42,000
Net Sales (all credit)	550,000	485,000
Cost of Goods Sold	300,000	265,000

Required - Use this information to determine the number of days in inventory for 2018?

Reference no: EM132479801

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Determine the number of days in inventory

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Reference no: EM132479801

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