Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Libscomb Technologies' annual sales are $6,948,111 and all sales are made on credit, it purchases $3,383,247 of materials each year (and this is its cost

image text in transcribed
Libscomb Technologies' annual sales are $6,948,111 and all sales are made on credit, it purchases $3,383,247 of materials each year (and this is its cost of goods sold). Libscomb also has $519,294 of inventory, $491,834 of accounts receivable, and $492,050 of accounts payable. Assume a 365 day year. What is Libscomb's Inventory Period (in days)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Personal Finance Turning Money Into Wealth

Authors: Arthur J Keown

5th Edition

0136070620, 9780136070627

More Books

Students also viewed these Finance questions

Question

differentiate between challenge and hindrance demands;

Answered: 1 week ago

Question

How flying airoplane?

Answered: 1 week ago