Question Content Area Based on the following data for the current year, what is the number of days' sales in inventory? Assume 365 days a year. Sales on account during year $575,757 Cost of merchandise sold during year 193,428 Accounts receivable, beginning of year 43,481 Accounts receivable, end of year 51,054 Merchandise inventory, beginning of year 32,544 Merchandise inventory, end of year 43,018 Round your intermediate calculations to the nearest dollar. When required, round your answer to the whole number.
Question Content Area Based on the following data for the current year, what is the number of days' sales in inventory? Assume 365 days a year. Sales on account during year $575,757 Cost of merchandise sold during year 193,428 Accounts receivable, beginning of year 43,481 Accounts receivable, end of year 51,054 Merchandise inventory, beginning of year 32,544 Merchandise inventory, end of year 43,018 Round your intermediate calculations to the nearest dollar. When required, round your answer to the whole number.
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 46E
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Question Content Area
Based on the following data for the current year, what is the number of days' sales in inventory? Assume 365 days a year.
| Sales on account during year | $575,757 |
| Cost of merchandise sold during year | 193,428 |
| Accounts receivable, beginning of year | 43,481 |
| Accounts receivable, end of year | 51,054 |
| Merchandise inventory, beginning of year | 32,544 |
| Merchandise inventory, end of year | 43,018 |
Round your intermediate calculations to the nearest dollar. When required, round your answer to the whole number.
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