None A company has the following:20X220X1Ending inventory$34,580$32,650Cost of goods sold182,000163,000Sales revenue300,000250,000Net income100,00080,000What is its days' sales in inventory for 20X2?67.4 days69.4 days68.3 days66.4 days68.9 days

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Answered: A company has the following: 20X2 20X1…

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 46E

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20.1 A business has compiled the following information for the year ended 31 October 20X2: 38 mins $ 386,200 989,000 422,700 Opening inventory Purchases Closing inventory The gross profit as a percentage of sales is always 40% Based on these figures, what is the sales revenue for the year? $952,500 $1,333,500 $1,587,500 A C $1.524.000

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A company has the following: 20X2 20X1 Ending inventory $34,580 $32,650 Cost of goods sold 182,000 163,000 Sales revenue 300,000 250,000 Net income 100,000 80,000 What is its days' sales in inventory for 20X2? 67.4 days 69.4 days 68.3 days 66.4 days 68.9 days