Question: Based on the following data for the current year, what is the days' sales in Inventory? Sales on account during year $531,030 Cost of

Based on the following data for the current year, what is the

Based on the following data for the current year, what is the days' sales in Inventory? Sales on account during year $531,030 Cost of goods sold during year 161,379 Accounts receivable, beginning of year 47,158 Accounts receivable, end of year. 46,271 Inventory, beginning of year 34,741 40,861 Inventory, end of year Assume 365 days a year. Do not round interim calculation:und your final answer up to the nearest whole day. a. 86 Ob. 4 c. 106 d. 365

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!