8. Dalton Company has average inventory of $45,000 and annua…
8. Dalton Company has average inventory of $45,000 and annual cost of goods sold of $328,500. Assume a 365-day year. Use the following formulas: Daily cost of goods sold = Annual cost of goods sold ÷ 365Days’ sales in inventory = Average inventory ÷ Daily cost of goods sold What is Dalton Company’s days’ sales in inventory? 1. 36.5 days 2. 50.0 days 3. 73.0 days 4. 90.0 days Instructions to students: Type in the number of the answer of your choice (type in either 1, 2, 3, or 4). Do not type in a decimal after inputting the number.