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Based on this information: 20X1 20X2 Net Sales Revenues $200,000 $250,000 Less: Cost of Goods Sold $120,000 $135,000 Gross Margin $80,000 $115,000 Less: Operating Expenses
Based on this information:
20X1 | 20X2 | |
Net Sales Revenues | $200,000 | $250,000 |
Less: Cost of Goods Sold | $120,000 | $135,000 |
Gross Margin | $80,000 | $115,000 |
Less: Operating Expenses | $60,000 | $70,000 |
Net Income | $20,000 | $35,000 |
And given the following selected balance sheet information for the same company:
12/31/X1 | 12/31/X2 | |
Accounts Receivable | $20,000 | $30,000 |
Inventory | $30,000 | $50,000 |
Accounts Payable | $15,000 | $20,000 |
Calculate the number of days sales in inventory for the year 20X2 (Round to the nearest whole number of days).
a. 47 days
b. 58 days
c. 108 days
d. 115 days
e. none of the above
I think im missing something because the answers ive gotten have been none of the above. Any help is appreciated! thank you
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