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12.3 question 4: Libscomb Technologies' annual sales are $6,128,392 and all sales are made on credit, it purchases $3,786,460 of materials each year (and this
12.3 question 4:
Libscomb Technologies' annual sales are $6,128,392 and all sales are made on credit, it purchases $3,786,460 of materials each year (and this is its cost of goods sold). Libscomb also has $500,274 of inventory, $1,475,000 of accounts receivable, and $1,400,000 of accounts payable. Assume a 365 day year.
What is Libscombs Receivables Period (in days)?
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