Question
The following information relates to Bongo Beets: 2020 2019 Net Sales (all on account) $500,000 $400,000 Cost of goods sold 390,000 295,000 Ending accounts receivable
The following information relates to Bongo Beets:
|
| 2020 | 2019 |
| Net Sales (all on account) | $500,000 | $400,000 |
| Cost of goods sold | 390,000 | 295,000 |
| Ending accounts receivable | 30,000 | 26,000 |
| Ending inventory | 47,000 | 44,000 |
What is Bongo's 2018 accounts receivable turnover? What is the 2018 average days to sell inventory?
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GAO Financial Audit Manual Volume 3 June 2018
Authors: United States Government GAO
2018 Edition
979-8733166001
