Accounting Information Systems (14th Edition)
Accounting Information Systems (14th Edition)
14th Edition
ISBN: 9780134474021
Author: Marshall B. Romney, Paul J. Steinbart
Publisher: PEARSON
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Chapter 2, Problem 10.8P
To determine

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During FY 2005 Tenfold Manufacturinghad total manufacturing bycosts are $438,000. Their cost of goods manufactured for the year was $548,000. The January 1, 2006 balance of the Work-in-Process Inventory is $39,000. Use this information to determine the dollar amount of the FY 2005 beginning Work-in-Process Inventory.
A7X, Inc., has an average collection period of 34 days. Its average daily investment in receivables is $95,000. What is the receivables turnover?
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