Question: !!!! Really important. Need 100% correct. Thanks Multiple Choice Question 138 Sunland Company had net credit sales of $13012000 and cost of goods sold of

!!!! Really important. Need 100% correct. Thanks

!!!! Really important. Need 100% correct. Thanks Multiple Choice Question 138 Sunland

Multiple Choice Question 138 Sunland Company had net credit sales of $13012000 and cost of goods sold of $9292000 for the year. The average inventory for the year amounted to $1489000. The average days in inventory during the year was approximately O 262 days O 42 days. 122 days 58 days. Click if you would like to Show Work for this question: Open Show Work

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!

Please help Really important. Need 100% correct. Thanks Multiple Choice Question 140 Cheyenne Corp. had net credit sales of $9029000 and cost of goods sold of $5318000 for the year. The average...

Multiple Choice Question 138 Sheridan Company had net credit sales of $13011000 and cost of goods sold of $9407000 for the year. The average inventory for the year amounted to $1444000. The average...

Multiple Choice Question 149 Concord Company had net credit sales during the year of $1400000 and cost of goods sold of $770000. The balance in accounts receivable at the beginning of the year was...

Multiple Choice Question 104 Marigold Corp.'s accounting records reflect the following inventories: Dec. 31, 2020 Dec. 31, 2019 Raw materials inventory $310000 $260000 Work in process inventory...

1. Isaac Inc. began operations in January 2013. For certain of its property sales, Isaac recognizes income in the period of sale for financial reporting purposes. However, for income tax purposes,...

Multiple Choice Question 87 A petty cash fund of $160 is replenished when the fund contains $7 in cash and receipts for $150. The entry to replenish the fund would O credit Miscellaneous Revenue for...

Please help will all, ASAP thank you!! *Multiple Choice Question 86 The interest charged on a $294000 note payable, at the rate of 6%, on a 90-day note would be (Use 360 days for calculation.) $8820....

A company wants to decrease its $200.00 petty cash fund to $100.00. The entry to reduce the fund is. Multiple Choice 0 Debit Petty Cash for $100.00: debit Cash Over and Short $172.00. Credit Cash...

Testbank Multiple Choice Question 62 Information for Sunland Company is given below: Sunland Company Balance Sheet December 31, 2021 Cash Accounts receivablet) Inventores Plant and equipment net of...

Assume you are an auditor and are concerned about how a client is reporting its marketable securities. You know that under certain circumstances marketable securities must be reported at market...

In an x-ray diffraction experiment with a certain crystal for mono-energetic x-rays, the first order maximum is observed to be at 25. What higher orders of maxima are possible with this crystal for...

Which of the following are assumptions of the CAPM? I. Individual trades of investors do not affect a stock's price. II . All investors plan for one identical holding period. III. All investors...

In Course: ECN-241-Z1 & Z2 St X | M McGraw Hill - Connect X M Question 2 - Chapter 11 HW x C chegg.com/homework-help/c x + G go...

6-11 This project develops skills in searching Web-enabled databases with information about products and services in faraway locations. Your company, Caledonian Furniture, is located in Cumbernauld,...

6-6 To what extent should end users be involved in the selection of a database management system and database design?

6-13 Explain the role of the database in SAPs threetier system. The Lego Group, which is headquartered in Billund, Denmark, is one of the largest toy manufacturers in the world. Legos main products...