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The Levertov Company reported the following information: Year 3 Year 1 22,000 18,000 17,000 13,000 Revenue Cost of Goods Sold Administrative expenses Net income 3,000 2,000 800 600 200 Year 2 20,000 15,000 2,000 3,000 700 500 300 1,000 Accounts Receivable Inventory Accounts Payable What is the company's days in inventory for Year 3 (rounded to one decimal place)? 4,000 600 400 100

The Levertov Company reported the following information: Year 3 Year 1 22,000 18,000 17,000 13,000 Revenue Cost of Goods Sold Administrative expenses Net income 3,000 2,000 800 600 200 Year 2 20,000 15,000 2,000 3,000 700 500 300 1,000 Accounts Receivable Inventory Accounts Payable What is the company's days in inventory for Year 3 (rounded to one decimal place)? 4,000 600 400 100

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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The Levertov Company reported the following information: Year 1 18,000 13,000 Revenue Cost of Goods Sold Administrative expenses Net income Year 3 22,000 17,000 3,000 2,000 800 600 200 Year 2 20,000 15,000 2,000 3,000 1,000 Accounts Receivable Inventory Accounts Payable What is the company's days in inventory for Year 3 (rounded to one decimal place)? 700 500 300 4,000 600 400 100
Transcribed Image Text:The Levertov Company reported the following information: Year 1 18,000 13,000 Revenue Cost of Goods Sold Administrative expenses Net income Year 3 22,000 17,000 3,000 2,000 800 600 200 Year 2 20,000 15,000 2,000 3,000 1,000 Accounts Receivable Inventory Accounts Payable What is the company's days in inventory for Year 3 (rounded to one decimal place)? 700 500 300 4,000 600 400 100
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