Question
Betty Company shows the following data on its 2013 financial statements: Accounts receivable, January 1 $720,000 Accounts receivable, December 31 $ 960,000 Merchandise inventory, January
Betty Company shows the following data on its 2013 financial statements:
Accounts receivable, January 1 $720,000
Accounts receivable, December 31 $ 960,000
Merchandise inventory, January 1 $900,000
Merchandise inventory, December 31 $1,020,000
Net sales 4,620,000
Cost of goods sold 3,360,000
Net income 384,000
The days sales in inventory ratio is:
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Financial Accounting A Business Perspective
Authors: Roger H. Hermanson, James Don Edwards
7th Edition
0072289988, 978-0072289985
