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baby Co has these selected data: Net accounts receivable December 31, 2007 P900,000 Net accounts receivable December 31, 2008 P1,000,000 Accounts receivable turnover 5 times Inventories December 31, 2007 P1,100,000 Inventories December 31, 2008 P1,200,000 Inventory turnover 4 times Number of days in a year 300 days Company gross margin for 2008 was a. P150,000 b. P200,000 c. P250,000 d. P400,000 What was the number of days in receivables and the number of days in inventories for 2008, respectively? a. 30 and 30 b. 60 and 60 c. 60 and 75 d. 63 and 77

baby Co has these selected data: Net accounts receivable December 31, 2007 P900,000 Net accounts receivable December 31, 2008 P1,000,000 Accounts receivable turnover 5 times Inventories December 31, 2007 P1,100,000 Inventories December 31, 2008 P1,200,000 Inventory turnover 4 times Number of days in a year 300 days Company gross margin for 2008 was a. P150,000 b. P200,000 c. P250,000 d. P400,000 What was the number of days in receivables and the number of days in inventories for 2008, respectively? a. 30 and 30 b. 60 and 60 c. 60 and 75 d. 63 and 77

FINANCIAL ACCOUNTING
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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baby Co has these selected data:

Net accounts receivable December 31, 2007 P900,000

Net accounts receivable December 31, 2008 P1,000,000

Accounts receivable turnover 5 times

Inventories December 31, 2007 P1,100,000

Inventories December 31, 2008 P1,200,000

Inventory turnover 4 times

Number of days in a year 300 days

Company gross margin for 2008 was

a. P150,000 b. P200,000 c. P250,000 d. P400,000

What was the number of days in receivables and the number of days in inventories for 2008, respectively?

a. 30 and 30 b. 60 and 60 c. 60 and 75 d. 63 and 77

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