Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Agnes Company reported the following data:. Quick assets $50,000 Current assets 145,000 Total liabilities 295,000 Average net receivables 14,100 Beginning inventory 33,000 Long-term liabilities

image text in transcribedimage text in transcribed

Agnes Company reported the following data:. Quick assets $50,000 Current assets 145,000 Total liabilities 295,000 Average net receivables 14,100 Beginning inventory 33,000 Long-term liabilities 195,000 Net credit sales 121,000 Cost of goods sold 79,000 Ending inventory 41,000 What was the average number of days to sell inventory? (Round intermediate computations to two decimal places. Assume 365 days in a year.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

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

Get Started

Recommended Textbook for

Applying International Financial Reporting Standards

Authors: Keith Alfredson, Ken Leo, Ruth Picker, Paul Pacter, Jennie Radford Victoria Wise

3rd edition

730302121, 978-0730302124

More Books

Students also viewed these Accounting questions