Answered step by step
Verified Expert Solution
Question
1 Approved Answer
On its most recent financial statements, Gevelyn Inc. reported net sales of $571,000, accounts receivable of $75,000, inventories of $66,000, and accounts payable of $58,000.
On its most recent financial statements, Gevelyn Inc. reported net sales of $571,000, accounts receivable of $75,000, inventories of $66,000, and accounts payable of $58,000. Gevelyn's COGS are 80% of its net sales. What is Gevelyn's days of sales in inventory? Round to two decimal places (Ex. 0.00).
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started