Question
Electronic Cigarettes International had the following information in its most recent balance sheets and income statements. Balance Sheet December 31, 2015 December 31, 2014 Cash
Electronic Cigarettes International had the following information in its most recent balance sheets and income statements. Balance Sheet December 31, 2015 December 31, 2014 Cash and cash equivalents $690 $2099 Accounts receivable, net of allowance for uncollectible accounts $2957 $4091 Inventories $2271 $5790 Total assets $95314 $126831 Accounts payable $4463 $10599 Income Statement 2015 2014 Sales $54227 $44690 Cost of sales $23757 $31464 Calculate the average number of days Electronic Cigarettes International holds on to its inventory for 2015. Round your answer to three decimals places.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored 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