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Hey I need help answering this question asap! Refer to the following selected financial information from Texas Electronics. Compute the company's days' sales in inventory
Hey I need help answering this question asap!
Refer to the following selected financial information from Texas Electronics. Compute the company's days' sales in inventory for Year 2. (Use 365 days a year)) Year 2 Year 1 Cash $ 38,900 $ 33,659 Short-term investments 104,000 67,000 Accounts receivable, net 92,500 86, 500 Merchandise inventory 128, 000 132,000 Prepaid expenses 13, 500 11,100 Plant assets 395, 066 345, 0600 Accounts payable 106, 400 114,860 Net sales 718, 600 683, 6006 Cost of goods sold 397,000 382, 000 Multiple Choice O 52.9, O 47.0. O 17.7.Step by Step Solution
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