7.The following financial information isfor Annapolis Corporationarefor the fiscal years ending 2019 & 2018 (all balances are normal):

Item/Account

2019

2018

Accounts Receivable

$44,000

$46,000

Inventory

42,000

38,000

Net Sales (all credit)

450,000

350,000

Cost of Goods Sold

154,000

152,000

Net Income

27,200

24,800

Use this information to determinetheaccounts receivable averagecollection period for FY 2019.(Use 365 day year.Round your answers to one decimal place.)

8.Towson Manufacturing had a Work in Process balance of $98,000 on January 1, 2018. The year end balance of Work in Process was $80,000 and the Cost of Goods Manufactured was $850,000. Use this information to determine the total manufacturing costs incurred during the fiscal year 2018. (Round enter as whole dollars only.)

9.During FY 2018, Towson Manufacturing had a beginning finished goods inventory of $23,000 & ending finished goods inventory of $18,500.Beginning work-in-process was $19,000and ending work-in-process was 20,500.Factory overhead was $22,500.The total manufacturing costs amounted to $216,000.Use this information to determine the FY 2018 Cost of Goods Sold. (Round enter as whole dollars only.)