Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Agnes Company reported the following data: Quick assets $ 63,000 Current assets 158,000 Total liabilities 308,000 Average net receivables 13,400 Beginning inventory 46,000 Long-term liabilities

Agnes Company reported the following data:

Quick assets $ 63,000
Current assets 158,000
Total liabilities 308,000
Average net receivables 13,400
Beginning inventory 46,000
Long-term liabilities 208,000
Net credit sales 134,000
Cost of goods sold 92,000
Ending inventory 54,000

What was the average days' supply in inventory? (Round intermediate computations to two decimal places. Assume 365 days in a year.)

198.37

214.24

136.19

182.50

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions