Question
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.) Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Year 2 $ 39,400 109,000 Year 1 $ 34,150 69,500 95,000 89,000 130,500 134,500 14,000 11,600 Plant assets 397,500 347,500 Accounts payable 103,900 117,300 Net sales 720,500 685,500 Cost of goods sold. 399,500 384,500
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Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
26th edition
128574361X, 978-1305446052, 1305446054, 978-1285743615
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