Libscomb Technologies' annual sales are $5,433,041 and all sales are made on credit, it purchases $3,986,576 of materials each year (and this is its cost of goods sold). Libscomb also has $581,228 of inventory, $530,966 of accounts receivable, and $416,773 of accounts payable. Assume a 365 day year. What is Libscomb’s Inventory Period (in days)?
Libscomb Technologies' annual sales are $5,433,041 and all sales are made on credit, it purchases $3,986,576 of materials each year (and this is its cost of goods sold). Libscomb also has $581,228 of inventory, $530,966 of accounts receivable, and $416,773 of accounts payable. Assume a 365 day year. What is Libscomb’s Inventory Period (in days)?
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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Libscomb Technologies' annual sales are $5,433,041 and all sales are made on credit, it purchases $3,986,576 of materials each year (and this is its cost of goods sold). Libscomb also has $581,228 of inventory, $530,966 of accounts receivable, and $416,773 of accounts payable. Assume a 365 day year.
What is Libscomb’s Inventory Period (in days)?
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