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Average production cycle . Use the following account information for Rian Company. 2013 and 2014 Selected Balance Sheet Accounts of Rian Company 12/31/14 12/31/13 Change

Average production cycle.

Use the following account information for Rian Company.

2013 and 2014 Selected Balance Sheet Accounts of Rian Company

12/31/14

12/31/13

Change

Accounts receivable

$42,486

$51,526

$9,040

Inventory

$61,520

$65,773

$4,253

Accounts payable

$29,966

$27,608

$2,358

2014 Selected Income Statement Items for Rian Company

Cash sales

$569,000

Credit sales

$529,000

Total sales

$1,098,000

Cost of goods sold

$565,778

For the coming year, Rian Company wants to reduce its average production cycle to 38.3 days. If the target-ending inventory for 2015 is $67,912, what cost of goods sold will the company need to reach its goal?

If the target ending inventory for 2015 is $67,912, what cost of goods sold will the company need to reach its goal?

$(Round to the nearest dollar.)

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