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Al's Sport Store has sales of $897,400, costs of goods sold of $528,300, inventory of $208,400, and accounts receivable of $74,100. How many days, on average, does it take the firm to sell its inventory assuming that all sales are on credit?

Al's Sport Store has sales of $897,400, costs of goods sold of $528,300, inventory of $208,400, and accounts receivable of $74,100. How many days, on average, does it take the firm to sell its inventory assuming that all sales are on credit?

Intermediate Financial Management (MindTap Course List)
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter21: Supply Chains And Working Capital Management
Section: Chapter Questions
Problem 5P: A chain of appliance stores, APP Corporation, purchases inventory with a net price of 500,000 each...
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Al's Sport Store has sales of $897,400, costs of goods sold of $528,300, inventory of $208,400, and accounts receivable of $74,100. How many days, on average, does it take the firm to sell its inventory assuming that all sales are on credit?
Transcribed Image Text:Al's Sport Store has sales of $897,400, costs of goods sold of $528,300, inventory of $208,400, and accounts receivable of $74,100. How many days, on average, does it take the firm to sell its inventory assuming that all sales are on credit?
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