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Missoula Inc. reported the following selected financial statement data: Cash Accounts receivable (net) Inventory Plant assets (net) Total assets Liabilities Shareholders' equity Net sales Cost
Missoula Inc. reported the following selected financial statement data: Cash Accounts receivable (net) Inventory Plant assets (net) Total assets Liabilities Shareholders' equity Net sales Cost of goods sold Net income Dec 31, 2017 $ 33,000 51,000 71,000 213,000 411,000 148,000 266,000 415,000 223,000 23,000 Dec 31, 2018 $ 36,500 59,000 75,000 224,000 398,000 148,000 253,000 456,500 286,000 31,000 Required: Compute the average collection period for 2018. (Round your answer to one decimal place.) Average collection period days
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