Question
Data from Estrin Corporation's most recent balance sheet and income statement appear below: This Year Last Year Accounts receivable $105,000 $103,000 Inventory $151,000 $180,000 Sales
Data from Estrin Corporation's most recent balance sheet and income statement appear below:
| This Year | Last Year | |
|---|---|---|
| Accounts receivable | $105,000 | $103,000 |
| Inventory | $151,000 | $180,000 |
| Sales on account | $707,000 | |
| Cost of goods sold | $544,495 |
The average sale period for this year is closest to: (Round your intermediate calculations to 2 decimal places.)
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Principles Of Auditing
Authors: O. Ray Whittington, Kurt Pany, Walter B. Meigs
12th Edition
0256167796, 978-0256167795
