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A firm has an average annual accounts receivable balance of $3,200,000, an average annual inventory balance of $2,700,000, annual sales of $15,000,000, and annual cost
A firm has an average annual accounts receivable balance of $3,200,000, an average annual inventory balance of $2,700,000, annual sales of $15,000,000, and annual cost of goods sold of $13,500,000. How many days does it take the firm to sell its inventory and collect the payment on the sale (assume all sales are on credit)?
150.87 |
143.57 |
73 |
4.87 |
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