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The following data are from Lorien Company. Accounts Payable Accounts Receivable Capital Stock Cash Cost of Goods Sold 600 Inventory 200 Long-term Debt 400 Net
The following data are from Lorien Company. Accounts Payable Accounts Receivable Capital Stock Cash Cost of Goods Sold 600 Inventory 200 Long-term Debt 400 Net Income 80 500 Property, Plant, and Equipment (net) Retained Earnings 230 Sales 1,000 Compute NUMBER OF DAYS' SALES IN INVENTORY. Note: If you need to compute the average balance for any account, assume that the beginning-of-year balance is the same as the end-of- year balance reported above. 292.0 days 121.7 days 33.3 days 30.0 days 60.0 days
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