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You are the financial manager at Fitzgerald Enterprises. Fitzgerald currently has inventory worth $200,000 and accounts receivables amounting to $500,000 on its balance sheet. You
You are the financial manager at Fitzgerald Enterprises. Fitzgerald currently has inventory worth $200,000 and accounts receivables amounting to $500,000 on its balance sheet. You have estimated that the inventory turnover ratio is 16x. Assuming 365 days per year, how much is the days sales outstanding (DSO) at Fitzgerald's? (Hint: first estimate the total amount of sales, using inventory turnover data.) O 6.40 days 16.00 days O 22.81 days 57.03 days
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