Last Horizons Ltd. has a days in inventory ratio of 45 and average inventory of $265,000. What is its cost of goods sold?

Last Horizons Ltd. has a days in inventory ratio of 45 and average inventory of $265,000. What is its cost of goods sold?
A) $11,762,112
B) $1,655,210
C) $2,149,444
D) Cannot be determined Inventory turnover = 365/45days = 8.11 × $265,000 = $2,149,444.


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