Days of Inventory = Inventory / (Cost Of Goods Sold / 365)
Inventory = 135,000
Cost of Goods sold = 579,300
Days Of Inventory = 135,000 / (579,300 / 365)
= 85.06
So the correct option is "B", that is 85.06 days
Bezos Corp. has sales of $913,400, costs of goods sold of $579,300, inventory of $135,000, and...
27. The Up-Towner has sales of $913,400, costs of goods sold of $579,300, inventory of $123,900, and accounts receivable of $78,900. How many days, on average, does it take the firm to sell its inventory assuming that all sales are on credit?
Mario's Home Systems has sales of $2,890, costs of goods sold of $2,230, inventory of $518, and accounts receivable of $437. How many days, on average, does it take Mario's to sell its inventory? 1 ο ο 65.42 days ο 55.19 days ο 83.62 days ο
Problem 12.20 Premier Corp. has net sales of $1,000,000, and cost of goods sold equal to 76 percent of net sales. Assume all sales are credit sales. If the firm’s accounts receivable total $127,000 and its operating cycle is 79.0 days, how much inventory does the firm have? (Round answer to nearest dollar, e.g. 5,275.) The firm’s inventory is $..............
12) Mario's Home Systems has sales of $2820, costs of goods sold of $2160, inventory of $504, and accounts receivable of $430. How many days, on average, does it take Mario's to sell its inventory? 12) ______ A) 55.66 days B) 85.17 days C) 84.00 days D) 72.66 days E) 65.23 days
Forever uses the p a rty system OA Sales Revenue Cost of Goods Sold Sales Revenue OC. Sales Revenue Account Rece ODA Sales Revenge Refer to the following trial balance Credit Accounts Receivable Merchandise Inventory Supplies Debit $15.000 41000 61.000 18.000 330,000 Accounts Payable Notes Payable Common Stock Retained Earnings Dividends 315.000 22.000 3.000 3.000 A3245.000 OB. 599.000 C5107 000 OD S102.000 Cick to select your answer 25,000 315.000 22,000 3,000 455.000 Notes Payable Common Stock Retained Earnings Dividends Sales...
GBC Corp. has annual sales of RM100,000,000 with cost of goods sold of RM50,735,000 and maintains an average inventory level of RM15,012,000. The average accounts receivable balance outstanding is RM10,000,000. The company makes all purchases on credit and has always paid on the 30th day. The company is now going to take full advantage of trade credit and pay its suppliers on the 40th day. If sales can be maintained at existing levels but inventory can be lowered by RM1,946,000...
A company has net sales of $222,000, cost of goods sold $89,000, operating expenses of $55,000, and other expenses of $5,000. The company's net income IS: A. OB. O C. OD, $78,000. $128,000. $34,000. $73,000. A customer purchased items on account from Silverfish, Inc. After a few days, the customer returned the goods. Silverfish, Inc. will issue a: OA. debit memorandum. OB, return receipt. C. credit memorandum O D. refund check. Companies that want a "middle ground" solution to net...
A company that uses the perpetual inventory system sold goods to a customer for cash for $4.500 The cost of the goods sold was $1.000 Which of the wong journal entre correctly records this transaction? 4.600 4600 4.600 4.600 1,000 OA Merchandise Inventory Sales Revenue OB Accounts Receivable Cash Cost of Goods Sold Merchandise Inventory O c. Cash Sales Revenue Cost of Goods Sold Merchandise Inventory OD. Cost of Goods Sold Sales Revenue 1,000 4,600 1,000 4,600 1,000 4,600
Home Systems has sales of $312,800, cost of goods sold of $218,400, inventory of $46,300, and accounts receivable of $62,700. How many days, on average, does it take the firm to collect payment on the sale? Is the firm more or less efficient than its competition that has 90 days’ sales outstanding? 73.16 days, more efficient 104.79 days, less efficient 73.16 days, less efficient 104.79 days, more efficient 4.99 days, more efficient
Fleet Automobiles sold an automobile for $29,000 on account. The cost of the automobile was $15,830. The sale of the automobile came with one year of free oil changes valued at $330. What would be the journal entry to record the sale? Date Accounts Debit Credit OA. 29,000 Accounts Receivable Sales Revenue Service Revenue Cost of Goods Sold Merchandise Inventory 28,670 330 15,830 15,830 OB. 29,000 29,000 Accounts Receivable Sales Revenue Cost of Goods Sold Merchandise Inventory 15,830 15,830 OC....