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You gathered the following information from the financial statements of a company you are researching. Accounts receivables: $500,000 (end of year), $430,000 (beginning of year)
You gathered the following information from the financial statements of a company you are researching. Accounts receivables: $500,000 (end of year), $430,000 (beginning of year) Account payable: $350,000 (end of year), $380,000(beginning of year) Inventory: $1million (end of year), $1.1 million (beginning of year) Sales: $5.6 million over the year Cost of goods sold: $4 million over the year What is the inventory period?
4 days | ||
30 days | ||
33 days | ||
93 days | ||
96 days |
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