Question
Data from Estrin Corporation's most recent balance sheet and income statement appear below: This Year Last Year Accounts receivable $ 126,000 $ 124,000 Inventory $
Data from Estrin Corporation's most recent balance sheet and income statement appear below:
| This Year | Last Year | ||||||||||
| Accounts receivable | $ | 126,000 | $ | 124,000 | |||||||
| Inventory | $ | 172,000 | $ | 201,000 | |||||||
| Sales on account | $ | 728,000 | |||||||||
| Cost of goods sold | $ | 596,800 | |||||||||
The average sale period for this year is closest to: (Round your intermediate calculations to 2 decimal places.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
