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(Amounts in millions) Young Olde 2022 Ending Inventory $6,031 $4,816 2021 Ending inventory 6,162 5.044 Cost of goods sold 25.937 31.983 Sales revenue 29.656 36,704
(Amounts in millions) Young Olde 2022 Ending Inventory $6,031 $4,816 2021 Ending inventory 6,162 5.044 Cost of goods sold 25.937 31.983 Sales revenue 29.656 36,704 2022 LIFO reserve 227 2021 LIFO reserve 225 (a) Calculate the inventory turnover and days in inventory for both companies. (Round answers to 2 decimal places, eg. 15.25.) Young Olde Inventory Turnover 4.2 times 6.4 times Days in inventory 86.9 days 57.0 days Erickson Company had a $300 balance in Allowance for Doubtful Accounts at December 31, 2022, before the current year's adjustment for uncollectible accounts. An aging of the accounts receivable revealed the following: Estimated Percentage Uncollectible Current Accounts $170.000 1% 1-30 days past due 15.000 3% 7 31-60 days past due 12.000 6% 61-90 days past due 5.000 15% Over 90 days past due 9.000 309 Total Accounts Receivable $211.000 (a) Calculate the estimated total uncollectable amount
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