The following information is for Yosef Company: 20X2 20X1 Sales $260,000 $320,000 Accounts Payable 10,000 20,000 Retained Earnings 125,000 78,000 Inventory 40,000 50,000 Accounts Receivable 25,000 20,000 Cost of Goods Sold 180,000 200,000 For 20X2, compute the average number of days that elapse from the time Yosef purchases inventory until the time Yosef sells that inventory. a. 59.7 days b. 122.9 days c. 32.2 days d. 91.3 days e. 105.2 days

The following information is for Yosef Company: 20X2 20X1 Sales $260,000 $320,000 Accounts Payable 10,000 20,000 Retained Earnings 125,000 78,000 Inventory 40,000 50,000 Accounts Receivable 25,000 20,000 Cost of Goods Sold 180,000 200,000 For 20X2, compute the average number of days that elapse from the time Yosef purchases inventory until the time Yosef sells that inventory. a. 59.7 days b. 122.9 days c. 32.2 days d. 91.3 days e. 105.2 days

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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