Question
The following balance sheet information is provided for Amarillo Company: Assets 2015 2014 Cash $ 5,000 $ 4,300 Accounts receivable 25,000 31,000 Inventory 44,500 54,000
The following balance sheet information is provided for Amarillo Company:
| Assets | 2015 | 2014 |
| Cash | $ 5,000 | $ 4,300 |
| Accounts receivable | 25,000 | 31,000 |
| Inventory | 44,500 | 54,000 |
Assume 2015 cost of goods sold is $665,000. The company's average days to sell inventory?
24 days
30 days
14 days
None of these answer choices is correct.
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Finance For Freelancers Financial Intelligence
Authors: Andrew Holmes
1st Edition
1408101165, 978-1408101162
