Feltzen CO. reports sales of $10,000,000 for 2002 with a gross profit margin of 40%. 20% of its sales are on credit. 2001 2002 AR $150,000 170,000 Inventory 900,000 1,000,000 AP 1,100,000 1,200,000 Accounts receivable days outstanding at the end of 2002 using the year-end receivable balance. a. 30.6 days b. 28.8 days c. 27 days d. 6.1 days

Feltzen CO. reports sales of $10,000,000 for 2002 with a gross profit margin of 40%. 20% of its sales are on credit. 2001 2002 AR $150,000 170,000 Inventory 900,000 1,000,000 AP 1,100,000 1,200,000 Accounts receivable days outstanding at the end of 2002 using the year-end receivable balance. a. 30.6 days b. 28.8 days c. 27 days d. 6.1 days

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 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....

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