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question #3 Consider a manufacturing firm that has the following information about its inventor and days of operations for accounting purposes. Beginning accounts receivableonJan 1,

question #3

Consider a manufacturing firm that has the following information about its inventor and days of operations for accounting purposes.

Beginning accounts receivableonJan 1, 2006 =$ 56627

Ending accounts receivable on Dec 31, 2006 =$ 42882

Cost of goods sold in year 2006: $ 231960

Markup = 31%

Annual days of operation = 342days

Its accounts receivable turnover ratio, ARTR =

The average number of days it takes to convert a credit sale into cash, DSO=

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