AAA's AAA's inventory turnover ratio is 17.58 based on sales of$22,500,000. The firm's current ratio equals 9.47 with currentliabilities equal to $380,000. If the firm's cash and marketablesecurities equal $672,434, what is the firm's days salesoutstanding?a. 58.38b. 47.47c. 26.71d. 37.62e. 24.39

Step 1: Determine the value of inventory.Inventory turnover = Net sales/Average inventoryAverage…

Answered: AAA's inventory turnover ratio is 17.58…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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