Question: Lazy O Corporation Selected Financial Data Current assets $85,000 Current liabilities 70,000 Accounts receivable 35,000 Inventories 40,000 Accounts payable 25,000 Net sales 425,000 Cost of
Lazy O Corporation Selected Financial Data
Current assets $85,000
Current liabilities 70,000
Accounts receivable 35,000
Inventories 40,000
Accounts payable 25,000
Net sales 425,000
Cost of goods sold 258,000
Lazy O's days inventory held is:
|
| 18 times |
|
| 57 times |
|
| 9 times |
|
| 34 times |
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