Computation of length of inventory period
Stoney Brooke, Inc. has sales of $890,000 and cost of goods sold of $640,000. The firm had a beginning inventory of $36,000 and an ending inventory of $46,000. What is the length of the inventory period?
a) 15.24 days
b) 15.61 days
c) 21.19 days
d) 21.71 days
e) 23.38 days