Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Galactic Hyper is a chain of hypermarkets which sells most of its products for cash, which is why its days of sales outstanding are as

image text in transcribed
Galactic Hyper is a chain of hypermarkets which sells most of its products for cash, which is why its days of sales outstanding are as low as 22 days. Assuming that the firm's average receivables are $234,000, and the cost of goods sold (COGS) for the 1-year period is $1,245,000, the annual sales of Galactic are closest to: a) $3,882,000.00 Ob b) $1,410,400.00 c) $4,880,200.00

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing The Art And Science Of Assurance Engagements

Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Chris E. Hogan, Joanne C. Jones

15th Canadian Edition

ISBN: 0136692087, 9780136692089

More Books

Students also viewed these Accounting questions

Question

and a .05?

Answered: 1 week ago