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12.3 question 2: Libscomb Technologies' annual sales are $6,710,459 and all sales are made on credit, it purchases $3,774,424 of materials each year (and this
12.3 question 2:
Libscomb Technologies' annual sales are $6,710,459 and all sales are made on credit, it purchases $3,774,424 of materials each year (and this is its cost of goods sold). Libscomb also has $538,938 of inventory, $492,753 of accounts receivable, and $465,476 of accounts payable. Assume a 365 day year.
What is Libscombs Inventory Period (in days, 2 numbers after the decimal points)?
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