Sales in inventory ratio for the year
A company has sales of $5,417,000, a gross profit ratio of 35%, ending merchandise inventory of $201,425, and total current assets of $1,539,600. What is the days sales' in inventory ratio for the year?
a) 6.10
b) 20.88
c) 26.15
d) 22.67
e) 15.77
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