Company Ajax has the following information from its financial statements in 2021. The annual sales revenue was $271 million and we assume that the company operated for 365 days last year. The accounts receivable (AR) amounted to $31.8 million and the accounts payable (AP) to $33.2 million. Further from the balance sheet, the inventory is valued at $12.6 million. The cost of sales (COGS/Revenue) is 50%. Part 1. Th receivable is Part 2: The average days of inventory is [Select ]

Company Ajax has the following information from its financial statements in 2021. The annual sales revenue was $271 million and we assume that the company operated for 365 days last year. The accounts receivable (AR) amounted to $31.8 million and the accounts payable (AP) to $33.2 million. Further from the balance sheet, the inventory is valued at $12.6 million. The cost of sales (COGS/Revenue) is 50%. Part 1. Th receivable is Part 2: The average days of inventory is [Select ]

Foundations of Business (MindTap Course List)

6th Edition

ISBN:9781337386920

Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Publisher:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Chapter15: Using Management And Accounting Information

Section15.8B: Financial Ratios

Problem 1CC

See similar textbooks

Related questions

Q: Shown below is a partially completed MPS record for ball bearings. Part 2 a. Develop the MPS for…

A: MPS is an acronym for Master Production Schedule. This schedule is prepared to understand, monitor,…

Q: 7. The following were taken from the records of Sauyo Company: Year Cost of Beginning Ending Good…

A: The given data is as follows Cost of goods sold 600700 Average Inventory…

Q: find the MPS start quantity in week 5, and the projected on-hand inventory in week 5. **I need clear…

A: given,

Q: Describe the advantages of cycle counting over an annualphysical inventory.

A: Cycle counting is an ongoing process that involves inventory validation in an accounting system or…

Q: 12.3 Jean-Marie Bourjolly's restaurant has the following inventory items that it orders on a weekly…

Q: So, what precisely does finished-goods inventory serve?

A: Inventory of goods that have gone through entire process of manufacturing and have been turned into…

Q: Discuss how a compan can justify smaller order quantities

A: The tiny order quantity is the smallest level of inventory a vendor wants to sell. Minor orders are…

Q: 4.7 Complete the following table. Lead time for the part is 2 weeks. The lot size is 100. the…

A: Ans) Lead Time = 2 weeks Lot size = 100 Formula:

Q: One unit of A is made of two units of B, three units of C. and two units of D. B is composed of one…

Q: Assume you are the manager of a shop that assembles power tools. You have just received an order for…

A: A Material Requirement Plan is a comprehensive document that outlines the specific materials needed…

Q: Complete the MPS record below for a single item. (Enter your responses as integers. A response of…

A: We tabulate the given data in Excel and solve as shown below:Item AOrder policy100unitsLead…

Q: M. de Koster, of Rene Enterprises, has the master production plan shown here:…

A: Given- Production plan- Setup cost (S) = $200Holding cost (H) = $10 per weekStockout cost = $10 per…

Q: how does purchasing help in reducing order cycle to achieve effieciency?

A: With the recent emphasis on cost reduction, many companies are devoting more time to finding…

Q: Assume you are the manager of a shop that assembles power tools. You have just received an order for…

A: Material requirement planning is the process that starts with a schedule of master production that…

Q: Complete the MPS record below for an end item. (Enter your responses as integers. A response of "0"…

A: Given data is,

Q: Which of the following best explains why location pooling, lead-time pooling, and delayed…

A: Location Pooling: Location Polling is defined as it is a strategy which helps to…

Question

The Average days of inventory is?

Company Ajax has the following information from its financial statements
in 2021.
The annual sales revenue was $271 million and we assume that the
company operated for 365 days last year. The accounts receivable (AR)
amounted to $31.8 million and the accounts payable (AP) to $33.2
million. Further from the balance sheet, the inventory is valued at $12.6
million. The cost of sales (COGS/Revenue) is 50%.
Part 1. T
receivable is
Part 2: The average days of inventory is [Select ]

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step 3

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

Explain what satisficing is and when it may be a good strategy.
What can McDonalds do to address Bakshis concerns?
Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. Is Ben Gibson acting legally? Is he acting ethically? Why or why not?
Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. As the Marketing Manager for Southeastern Corrugated, what would you do upon receiving the request for quotation from Coastal Products?