Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Excerpts from Best Corporation's December 31, 20x2 and 20x1, financial statements are presented below: 20x2 20x1 Accounts receivable $ 48,000 $ 40,000 Merchandise inventory 32,000
Excerpts from Best Corporation's December 31, 20x2 and 20x1, financial statements are presented below:
20x2 | 20x1 | ||||||
Accounts receivable | $ | 48,000 | $ | 40,000 | |||
Merchandise inventory | 32,000 | 43,000 | |||||
Net sales | 237,600 | 207,000 | |||||
Cost of goods sold | 122,000 | 112,000 | |||||
Total assets | 433,000 | 409,000 | |||||
Total shareholders' equity | 248,000 | 229,000 | |||||
Net income | 38,500 | 32,000 | |||||
What is Best's average days in inventory for 20x2?
Excerpts from Best Corporation's December 31,202 and 201, financial statements are presented below: What is Best's average days in inventory for 202 ? (Round your intermediate calculations to 2 decimal places.) Multiple Choice 96 days. 57 days. 112 days. 132 daysStep 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