0000 T-Mobile 9:58 AM * 60 % ezto.mheducation.com AC Acc ng for Dec Jose Mejia Q

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0000 T-Mobile 9:58 AM * 60 % ezto.mheducation.com AC Acc ng for Dec Jose Mejia Question [of 5 2.00 peints The following information was available for the year ended December 31, 2016: Cost of goods sold rageocounts recelwable for the year Inventory at Required: a. Calculate the inventory turnover for 2016· places.) (Round your answer to 2 decimal b. Calculate the number of days' sales in inventory for 2016, using year-end inventories. (Use 365 days a year. Round your answer to 1 decimal place.) c. Calculate the accounts receivable turnover for 2016. (Round your answer to 1 decimal place.) d. Calculate the number of day' sales in accounts receivable for 2016, using year-end accounts receivable. (Use 365 days a year. Round your answer to 1 decimal place.)

Explanation / Answer

Dear Student Thank you for using Chegg Please find below the answer and please give thumbs up   Statementshowing Computations Paticulars Amount a) Cost of goods sold               624,150.00 Average Inventory               190,000.00 Inventory Turnover = 624,150/190,000                            3.29 b) Number of days sales in inventory = 365/(624150/158200) Number of days sales in inventory = 365/3.95 Number of days sales in inventory = 92.51 Days c) Accounts receivable Turnover = 930750/41350                         22.51 d) Number of days sales in AR = 365/(930750/26800) Number of days sales in AR = 365/34.73 Number of days sales in AR = 10.51

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