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James, Inc. provides the following​ data: 2025 2024 Cash $132,000 $121,000 Accounts​ Receivable, Net 75,000 52,000 Merchandise Inventory 49,000 43,000 ​Property, Plant, and​ Equipment, Net 122,000 99,000 For the year ending December​ 31, 2025: Net Sales Revenue $451,000 Cost of Goods Sold ​(315,000​) Gross Profit $136,000 Calculate the number of​ days' sales in inventory for 2025.​ (Use 365 days for any​ calculations.) A. 56.77 days B. 53.28 days C. 51.41 days D. 123.31 days

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Kolawole845

Answer:

Option A is correct

Days' sales in inventory= 56.77 days

Explanation:

The days' sales in inventory is the average length if days for which product remain in stock until they are sold. The shorter the days the better.

Days' sales in inventory = (closing stock/cost of goods sold) × 365 days

Days' sales in inventory= 49,000/315,000× 365 days= 56.77 days

Days' sales in inventory= 56.77 days