The Downtown Boutique has sales of $625,800, costs of goods sold of $387,500, inventory of $96,400, and accounts receivable of $52,300. How many days, on average, does it take the firm to sell its inventory assuming that all sales are on credit? A) 65.32 days B) 81.05 days C) 90.73 days D) 72.16 days E) 78.46 days

The Downtown Boutique has sales of $625,800, costs of goods sold of $387,500, inventory of $96,400, and accounts receivable of $52,300. How many days, on average, does it take the firm to sell its inventory assuming that all sales are on credit? A) 65.32 days B) 81.05 days C) 90.73 days D) 72.16 days E) 78.46 days

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter21: Supply Chains And Working Capital Management

Section: Chapter Questions

Problem 5P: A chain of appliance stores, APP Corporation, purchases inventory with a net price of 500,000 each...

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