ABC Co. is a manufacturing company and its selected financial statements items are given as following. Net Sales equals to 32000 for the year 2020 and 28000 for the year 2019. COGS equals to 24000 and 21000 respectively for the year 2020 and 2019. Accounts Receivable for the year 2020 equals to 8500 and 7800 for the year 2019. Inventory equals to 7500 and 6800 respectively for the year 2020 and 2019. Accounts Payable for the year 2020 equals to 11000 and 9000 for the year 2019. (All numbers are in dollars). What is days sales outstanding for the year 2020?

ABC Co. is a manufacturing company and its selected financial statements items are given as following. Net Sales equals to 32000 for the year 2020 and 28000 for the year 2019. COGS equals to 24000 and 21000 respectively for the year 2020 and 2019. Accounts Receivable for the year 2020 equals to 8500 and 7800 for the year 2019. Inventory equals to 7500 and 6800 respectively for the year 2020 and 2019. Accounts Payable for the year 2020 equals to 11000 and 9000 for the year 2019. (All numbers are in dollars). What is days sales outstanding for the year 2020?

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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