Question
Libscomb Technologies' annual sales are $6,168,164 and all sales are made on credit, it purchases $4,057,340 of materials each year (and this is its cost
Libscomb Technologies' annual sales are $6,168,164 and all sales are made on credit, it purchases $4,057,340 of materials each year (and this is its cost of goods sold). Libscomb also has $566,588 of inventory, $1,475,000 of accounts receivable, and $1,400,000 of accounts payable. Assume a 365 day year.
What is Libscombs Receivables Period (in days)?
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Financial Accounting An Introduction to Concepts, Methods and Uses
Authors: Roman L. Weil, Katherine Schipper, Jennifer Francis
14th edition
978-1111823450, 1-133-36617-1 , 1111823456, 978-1-133-3661, 978-1133591023
