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Find the number of days in inventory

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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                                     56,000                         42,000

Current Liabilities                            76,000                       42,000

Net Sales (all credit)                         550,000                    485,000

Cost of Goods Sold                           280,000                        265,000

Question 1: Use this information to determine the number of days in inventory for 2018: (Use a 365 day year. Round & enter your answers to one decimal place and enter the value.)

Reference no: EM132585322

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