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The following information is available for Sunshine Bakery Ltd.: 2022 2021 Accounts receivable $ 72,000 $ 80,000 Inventory 56,000 64,000 credit sales 600,000 280,000 Cost
The following information is available for Sunshine Bakery Ltd.:
| 2022 | 2021 | |
|---|---|---|
| Accounts receivable | $ 72,000 | $ 80,000 |
| Inventory | 56,000 | 64,000 |
| credit sales | 600,000 | 280,000 |
| Cost of goods sold | 240,000 | 212,000 |
| Net Income | 60,000 | 34,000 |
The receivables turnover ratio for 2022 is
7.5 times.
8.3 times.
7.9 times.
9 times.
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Cornerstones of Cost Management
Authors: Don R. Hansen, Maryanne M. Mowen
2nd edition
1111824401, 978-1111824402
