Sheridan Company had the following records: 2022 2021 Ending inventory $40000 $30000 Cost of goods sold 332500 333000 What is Sheridan's average days in inventory for 2022? (rounded) (Use 365 days for calculation. Round intermediate calculations to 1 decimal place, e.g. 12.1.) 38.4 days 38.8 days 37.2 days 36.1 days Given the data below for a firm in its first year of operation, determine net income under the accrual basis of accounting. Revenue recognized $14060 Accounts receivable 2220 Expenses incurred 5370 Accounts payable (related to expenses) 560 Supplies purchased with cash 1332 a. $8690 b. $10350 c. $7030 d. $9018