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)
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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Financial accounting

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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