Answer is c, but the way cfai shows the calculation they are not using average inventory, but just the ending value. why? I was under the impression that for all turnover ratios we use average bs values. Am I missing something?
That problem confused me also, but I am assuming that because they only give you an ending balance for accounts receivable(used to calculate receivables turnover and therefore days receivables), use the ending balance for inventory when calculating inventory turnover/days inventory. If they had given a beginning and ending value for accounts receivables, you would most likely use the average value unless they problem explicitly states otherwise.