For most of the recent year, John's Shoe Store had sales of $930,000 and cost of goods sold at $625,000. At the beginning of the year the company had accounts recievable of $110,000 and its inventory was $230,000. At the end of the year, accounts recievable and inventory were $86,000 and $170,000 respectively. How long in days does the company on average hold an item of inventory?
For most of the recent year, John's Shoe Store had sales of $930,000 and cost of goods sold at $625,000. At the beginning of the year the company had accounts recievable of $110,000 and its inventory was $230,000. At the end of the year, accounts recievable and inventory were $86,000 and $170,000 respectively. How long in days does the company on average hold an item of inventory?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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For most of the recent year, John's Shoe Store had sales of $930,000 and cost of goods sold at $625,000. At the beginning of the year the company had accounts recievable of $110,000 and its inventory was $230,000. At the end of the year, accounts recievable and inventory were $86,000 and $170,000 respectively. How long in days does the company on average hold an item of inventory?
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