Waterway's days in inventory in 2018 was 3.6 days. 21.3 days ending inventory $61000; cost of goods sold $6132000; and sales $1440000.
What is inventory?
- Both the raw materials used in production and the finished goods that are offered for sale are included in the definition of inventory. One of a company's most valuable assets is its inventory because it is one of the main sources of revenue generation and, consequently, a source of profits for the company's shareholders.
- There are three different types of inventory: finished goods, work-in-progress, and raw materials. On the balance sheet of a company, it is listed as a current asset. Inventory is a crucial asset for any business. It is described as the assortment of raw materials or finished products that a company maintains throughout the normal course of business.
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