The Downtown Store has sales of $1,200,000, costs of goods sold of $750,000, inventory of $150,000, and accounts receivable of $90,000. How many days, on average, does it take the firm to sell its inventory assuming that all sales are on credit?

The Downtown Store has sales of $1,200,000, costs of goods sold of $750,000, inventory of $150,000, and accounts receivable of $90,000. How many days, on average, does it take the firm to sell its inventory assuming that all sales are on credit?

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 11P: Negus Enterprises has an inventory conversion period of 50 days, an average collection period of 35...

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Hi experts please provide answer this financial accounting question

The Downtown Store has sales of $1,200,000, costs of goods
sold of $750,000, inventory of $150,000, and accounts
receivable of $90,000. How many days, on average, does it
take the firm to sell its inventory assuming that all sales are
on credit?

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