Question
StrongSupplements.com, an online food supplement retailer, reported its financials for the 2020 fiscal year as follows: Beginning Ending Revenue 95.000 Cost of Goods Sold 80.000
StrongSupplements.com, an online food supplement retailer, reported its financials for the 2020 fiscal year as follows:
| Beginning | Ending | |
| Revenue | 95.000 | |
| Cost of Goods Sold | 80.000 | |
| Accounts Receivable | 4.000 | 5.000 |
| Inventory | 3.500 | 7.500 |
| Accounts Payable | 7.750 | 5.250 |
How many days does it take on average for StrongSupplements.com to turn its initial cash investment in inventory back into cash?
Hint: The correct answer includes 2 decimals, e.g., 2.55. Rounding errors will be tolerated, e.g., 2.55 0.01.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Current Issues In Auditing
Authors: Michael J Sherer, W Stuart Turley
3rd Edition
1853963658, 978-1853963650
