Asset management ratios, Caps Corp. reported sales for 2008 of $45 million. Caps listed, Accounting Basics

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Asset management ratios

Problem:

Caps Corp. reported sales for 2008 of $45 million. Caps listed $9 million of inventory on its balance sheet. Using a 365-day year, how many days did Caps' inventory stay on the premises? How many times per year did Caps' inventory turn over?

73 days, 405 times, respectively
73 days, 5 times, respectively
0.2 days, 5 times, respectively
405 days, 5 times, respectively

Note: Please provide through step by step calculations.

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Accounting Basics: Asset management ratios

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Accounting Basics: Asset management ratios

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Accounting Basics: Asset management ratios

Reference No:- TGS0890858

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