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Refer to the following selected financial information from Texas Electronics. Compute the company's days' sales in inventory for Year 2 (Use 365 days a
Refer to the following selected financial information from Texas Electronics. Compute the company's days' sales in inventory for Year 2 (Use 365 days a year.) Year 21 Year 1 Cash Short-term investments Accounts receivable, net Merchandise inventory $ 38,100 $ 32,850 96,000 63,000 88,500 82,500 124,000 128,000 Prepaid expenses 12,700 10,300 Plant assets 391,000 341,000 Accounts payable 110,400 110,800 Net sales 714,000 679,000 Cost of goods sold 393,000 378,000
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