I understand 1-3 but for number four the formula is (inventory/ netsales)*365. But for some reason my professor along with the book are using cost of goods sold instead of sales, I require clarification asap.

buswebl.fau.edu ACG 2021-001: Principles of Accounting 1 Accounting Archive | May 15, 2017 I Chegg.c 021 November 30, 2017 Part 1 1000 2s Refer to the Simon Company information in Exercise 13-6. The 375 1Assume that all sales are on credit and then compute: (1) company's income statements for the years ended December 31, 2017 and 2016, are displayed to the left. 9 days' sales uncollected g2,SDD 800 200 (2) accounts receivable turpSt 500 500 1/2. S30 nover, and x345 (3) inventory t 2.0 (4) days' sales in inventory. Comment on the changes in the ratios from 2016 to 2017. (Round amounts to one decimal.) 3229 1x