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Intro Sales for the year were $ 7 8 , 0 0 0 and cost of goods sold were $ 6 2 , 4 0

Intro

Sales for the year were $

78, 000

and cost of goods sold were $

62, 400 .

The balance sheet at the end of the year is given below:

Part

1

What is the firm's days' sales in inventory?

Part

2

What is the firm's days' sales in receivables?

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