Activity Ratios: Inventory Turnover and Days of Inventory on Hand (DOH)

With inventory of EUR 150,000, cost of goods sold of EUR 800,000, and sales of EUR 2,500,000, a company's days of inventory would be:

No. This appears to be cost of goods sold divided by inventory, which is inconsistent with the formula for days of inventory.

Incorrect. This seems to be inventory divided by daily sales, which isn't reflective of the formula for days of inventory.

Yes! The days of inventory is inventory divided by daily cost of goods sold. So you'd have $$\displaystyle \frac{150{,}000}{(\frac{800{,}000}{365})} = 68.4375$$, or 68.44 days.

5.33.

21.90.

68.44.