| The following is an extract from the income statement of a business:$000                              $000
 Sales revenue                                                                                22,000
 Opening inventories                                  5,000
 Purchases                                               15,000
 –––––––
 20,000
 less: Closing inventories                            3,000                             17,000
 –––––––                   –––––––
 Gross profit                                                                                       5,000
 –––––––
 To the nearest day, how many days’ sales are held in the closing inventories?
 A   3,000/22,000 x 365 = 50 days
 B   3,000/17,000 x 365 = 64 days
 C   3,000/15,000 x 365 = 73 days
 D   3,000/20,000 x 365 = 55 days
 B
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