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Firm to sell its inventory

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A firm has sales of $710,000. The cost of goods sold is equal to 57 percent of sales. The firm has an average inventory of $23,940. How many days on average does it take the firm to sell its inventory?

a. 12.31 days

b. 16.90 days (*picked and was wrong answer*)

c. 15.29 days

d. 21.59 days

e. 10.77 days

Reference no: EM131041929

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