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The following information was taken from the records of Hoffman Company for the year 20X2: Cost of goods sold $253,000 400,000 Sales 76,000 58,000 45,000

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The following information was taken from the records of Hoffman Company for the year 20X2: Cost of goods sold $253,000 400,000 Sales 76,000 58,000 45,000 Beginning inventory Ending inventory Beginning accounts receivable Ending accounts receivable Beginning accounts payable Ending accounts payable 52,000 24,000 28,000 Compute the number of days' purchases in accounts payable. 101 days 141 days 40 days 44 days 97 days

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