Based on the following data for the current year, compute the number of days' sales in accounts receivable. Net sales on account during the year: $820,000 Cost of merchandise sold during the year: 385,000 Accounts receivable, beginning of year: 38,000 Accounts receivable, end of year: 32,000 Inventory, beginning of year: 87,000 Inventory, end of year: 116,000 a. 14.2 b. 16.9 c. 31.2 d. 15.6

Based on the following data for the current year, compute the number of days' sales in accounts receivable. Net sales on account during the year: $820,000 Cost of merchandise sold during the year: 385,000 Accounts receivable, beginning of year: 38,000 Accounts receivable, end of year: 32,000 Inventory, beginning of year: 87,000 Inventory, end of year: 116,000 a. 14.2 b. 16.9 c. 31.2 d. 15.6

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 27BEB: Last year, Tobys Hats had net sales of 45,000,000 and cost of goods sold of 29,000,000. Tobys had...

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