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What if the company sold real estate

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Reference no: EM13547856

The Rigby Supplement Company showed the following data in its financial statements.

 

2008

2007

Cost of goods sold

$1,400,000

$1,125,000

Beginning inventory

275,000

175,000

Ending inventory

405,000

275,000

1. Compute the number of days' sales in average inventory for both 2007 and 2008. What can you infer from these numbers?

2. How would you interpret the answer to (1) if this company were in the business of selling fresh fruits and vegetables? What if the company sold real estate?

Reference no: EM13547856

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