Inventory outstanding for Ohio Valley Homecare Suppliers
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Ohio valley homecare suppliers, Inc, had $20 million in saldes in 2004. Its cost of goods sold was $8 million and its average inventory balance was $2,000,000
The average number of days inventory outstanding for Ohio Valley Homecare Suppliers (OVHS) in 2004 is
a. 30 days
b. 73 days
c. 91.10 days
d. 91.25 days
e. 89.9 days
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Solution Summary
This solution explains how to calculate days of outstanding inventory for a company based on sales, costs of goods sold, and average inventory balance.
Solution Preview
The days of inventory outstanding is how many times a company turns over its inventory in a year.
The cost ...
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