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1) Sky Itd. provides the following data: Cash Accounts Receivable, Net Merchandise Inventory Property, Plant, and Equipment, Net Total assets 2014 $21,000 31,000 53,000 120,000

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1) Sky Itd. provides the following data: Cash Accounts Receivable, Net Merchandise Inventory Property, Plant, and Equipment, Net Total assets 2014 $21,000 31,000 53,000 120,000 $225. 2013 $18,000 35,000 15,000 90,000 $158,000 Net credit sales Cost of Goods Sold Gross profit $240,000 (90,000) $150,000 Calculate days' sales in inventory for 2014

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