Question
The 2013 and 2014 partial balance sheets for Ottoman Industries is shown below. 2013 2014 Current Assets Cash $ 16,000 $ 14,000 Accounts Receivable, net
The 2013 and 2014 partial balance sheets for Ottoman Industries is shown below.
| 2013 | 2014 | |
| Current Assets | ||
| Cash | $ 16,000 | $ 14,000 |
| Accounts Receivable, net | 20,000 | 24,000 |
| Inventory | 30,000 | 28,000 |
| Total Current Assets | 66,000 | 66,000 |
| Plant & Equipment, net | 60,000 | 40,000 |
| Total Assets | 126,000 | 106,000 |
Sales revenue for Ottoman was $120,000 for 2013 and $114,000 for 2014 while cost of goods sold was $82,400 for 2013 and $72,500 for 2014.
What is the average days to sell inventory for 2014?
| 141 days |
| 146 days |
| 133 days |
| 137 days |
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Accounting For Business
Authors: Peter Scott
3rd Edition
0198807791, 978-0198807797
