Company ABC balance sheet indicates that it has an inventory…
Company ABC balance sheet indicates that it has an inventory of $8,567 million. The profit & loss statement shows a net sales of $25,700 million and a cost of goods sold amounting to $21,567 million. Assume 365 days per year. Round the answer to 2 decimal places 1. How many times on average does this company replenish its inventory in a year? 2. How many days on average does a product stay in ABC’s inventory before it is sold?