Question: Based on the following data for the current year, what is the number of days' sales in receivables (rounded to one decimal place)? Assume 365

Based on the following data for the current year, what is the number of days' sales in receivables (rounded to one decimal place)? Assume 365 days a year.

Sales on account during year $513,480
Cost of goods sold during year 154,125
Accounts receivable, beginning of year 41,461
Accounts receivable, end of year 49,396
Inventory, beginning of year 89,868
Inventory, end of year 115,035

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!