You have the following balance sheet information 2022 Inventory Accounts Receivable Accounts Payable Beginning Ending Average...

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You have the following balance sheet information 2022 Inventory Accounts Receivable Accounts Payable Beginning Ending Average $2,900 $3,750 $3,325 $1,300 $1,500 $1,400 $975 $1,100 $1,038 Suppose further that sales during the year are $13,400 (of which 75% is sold on credit) and the cost of goods sold is $8088 (of which 85% is purchased via an accounts payable). Calculate the inventory cycle (in days). You have the following balance sheet information 2022 Inventory Accounts Receivable Accounts Payable Beginning Ending Average $2,900 $3,750 $3,325 $1,300 $1,500 $1,400 $975 $1,100 $1,038 Suppose further that sales during the year are $13,400 (of which 75% is sold on credit) and the cost of goods sold is $8088 (of which 85% is purchased via an accounts payable). Calculate the inventory cycle (in days).

Answer rating: 100% (QA)

To calculate the inventory cycle we need to first calculate the days inventory outstanding DI... View the full answer