Question
Please explain the process on how to obtain the compute days for 2016 & 2017 The company's income statements for the years ended December 31,
Please explain the process on how to obtain the compute days for 2016 & 2017
The company's income statements for the years ended December 31, 2017 and 2016, follow. Assume that all sales are on credit:
For Year Ended December 31 2017 2016 Sales$ 673,5002016 -$ 532,000Cost of goods sold $ 411,2252016-$ 345,500Other operating expenses209,5502016 - 134,980Interest expense12,1002016- 13,300Income taxes9,5252016-8,845Total costs and expenses642,4002016502,625Net income$ 31,1002016$ 29,375Earnings per share$1.902016-$1.80
Days' Sales In Inventory
Numerator:/Choose Denominator:xDays=Days' Sales In Inventory
/
x
=Days' sales in inventory2017:
/
x
=
days2016:
/
x
=
days
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