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Refer to the following selected financial information from McCormik, LLC. Compute the company's days' sales in inventory for Year 2. (Use 365 days a year)
Refer to the following selected financial information from McCormik, LLC. Compute the company's days' sales in inventory for Year 2. (Use 365 days a year) Year 2 Year 1 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaide Plant assets Accounts payable Net sales Cost of goods sold $38,500 100,000 90,500 126,000 13,100 393,000 108,400 716,000 395,000 $33,250 65,000 84,500 130,000 10,700 343,000 112,800 681,000 380,000 51.0 116.4 O 44.5 O 46.1 O 83.6
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