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The following balance sheet information is provided for Patton Company: Assets Year 2 Year 1 Cash $ 3,500 $ 3,100 Accounts receivable $ 13,000 $
The following balance sheet information is provided for Patton Company:
Assets | Year 2 | Year 1 | |||||
Cash | $ | 3,500 | $ | 3,100 | |||
Accounts receivable | $ | 13,000 | $ | 15,000 | |||
Inventory | $ | 31,500 | $ | 38,500 | |||
Assuming Year 2 cost of goods sold is $375,000, what are the companys average days to sell inventory? (Use 365 days in a year. Do not round your intermediate calculations.)
Multiple Choice
34.07 days
30.66 days
37.47 days
55.00 days
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