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 and Managerial Accounting Information for Decisions
Authors: John Wild, Ken Shaw, Barbara Chiappetta
5th edition
978-1259317552, 1259317552, 978-0078025600, 78025605, 978-1259335013, 1259335011, 978-1259347641
