Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 07, 2024

7. Pascarelli Corporation's inventory at the end of Year 2 was $122,000 and its inventory at the end of Year 1 was $150,000. Cost of

7. Pascarelli Corporation's inventory at the end of Year 2 was $122,000 and its inventory at the end of Year 1 was $150,000. Cost of goods sold amounted to $870,000 in Year 2. How long is the company's average sale period (turnover in days) for Year 2 closest to?

A. 51.2 days

B. 230.1 days

C. 57.0 days

D. 32.3 days

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

=+n+1 n PU AX =P UAX |+P(AR+1) -P|U (ARNAn+1). k=1 \k=1 k=1 Applying (2.9) to the first and third terms on the right gives (2.9) with n + 1 in place of n.

Answered: 1 week ago

Question

★★★★★

Based on the data presented in Exercise 5-1, assume that the beginning balances for the customer accounts were zero, except for Tillman Inc., which had a $590 beginning balance. In Exercise 5-1 In...

Answered: 1 week ago

Question

★★★★★

13. The payback period The payback method helps firms establish and identify a maximum acceptable payback period that helps in their capital budgeting decisions. Consider the case of Cute Camel...

Answered: 1 week ago

Question

★★★★★

Studies have shown that low vitamin D is associated with impaired fertility, endometriosis, and polycystic ovary syndrome. Vitamin D regulates the antimullerian hormone (AMH), follicle-stimulating...

Answered: 1 week ago

Question

★★★★★

A client comes into a bank and requests to make a bank deposit of $9000. Under the Proceeds of Crime and Terrorist Financing Act of 2000 what must the bank do to be compliant with legislation? Select...

Answered: 1 week ago

Question

★★★★★

In the country Gamma it takes 6 hours to produce one automobile and 1 hour to produce a bale of cotton. In the country Delta it takes 10 hours to produce one automobile and 2.5 hours to produce a...

Answered: 1 week ago

Question

★★★★★

I. Suppose that there are only 10 individuals in the economy each with the following utility function over present and future consumption : U (c1, c2) = c1 + 2 / 3 c2, where c1 is consumption today,...

Answered: 1 week ago

Question

★★★★★

QUESTION 10/12 Company A's total royalty expenses for a specific product vary based on the total revenue (dollars in thousand), shown as below: Which of the following statements is correct? 1 point...

Answered: 1 week ago

Question

★★★★★

The relativistic Doppler shift causes the light from a distant galaxy to be blue shifted by 5%. What is the speed of the galaxy relative to the earth?

Answered: 1 week ago

Previous Question Next Question