Phil's Hardware sells its inventory in 75 days on average. Costs of goods sold for the year are $631,800. What is the average balance of the firm's inventory? Discuss the advantages and disadvantages...

Phil's Hardware sells its inventory in 75 days on average. Costs of goods sold for the year are $631,800. What is the average balance of the firm's inventory? Discuss the advantages and disadvantages of using on- premise caterers and off- premise caters.