Anthony Thomas Candies (ATC) reported the following financial data for 2021 and 2020: 2021 2020 $322,000...
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Anthony Thomas Candies (ATC) reported the following financial data for 2021 and 2020: 2021 2020 $322,000 7,200 $314,800 $289,000 5,800 Sales Sales returns and allowances Net sales $283,200 Cost of goods sold: Inventory, January 1 Net purchases 26,000 127,000 50,000 144,000 194,000 60,000 134,000 153,000 50,000 Goods available for sale Inventory, December 31 Cost of goods sold Gross profit 103,000 $180,800 $180,200 The average days inventory for ATC (rounded) for 2021 is: (Round your intermediate calculations to two decimal places. Round your final answer to the nearest whole number.) Multiple Choice 150 days. 213 days. 210 days. Less than 100 days. Anthony Thomas Candies (ATC) reported the following financial data for 2021 and 2020: 2021 2020 $322,000 7,200 $314,800 $289,000 5,800 Sales Sales returns and allowances Net sales $283,200 Cost of goods sold: Inventory, January 1 Net purchases 26,000 127,000 50,000 144,000 194,000 60,000 134,000 153,000 50,000 Goods available for sale Inventory, December 31 Cost of goods sold Gross profit 103,000 $180,800 $180,200 The average days inventory for ATC (rounded) for 2021 is: (Round your intermediate calculations to two decimal places. Round your final answer to the nearest whole number.) Multiple Choice 150 days. 213 days. 210 days. Less than 100 days.
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Financial Reporting and Analysis Using Financial Accounting Information
ISBN: 978-1439080603
12th Edition
Authors: Charles H Gibson
Posted Date:
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