ABC company's records included the following, assume 365 days in a year: Accounts Receivable, 12/31/20 $ 860,000 Accounts Receivable, 12/31/19 780,000 Merchandise Inventory, 12/31/20 900,000 Merchandise Inventory, 12/31/19 800,000 Net Sales during 2020 8,364,000 Cost of Sales during 2020 5,950,000 Compute the average length of time in days to sell inventory O 52.1 days O 55.3 days O 49.3 days O 48.7 days

ABC company's records included the following, assume 365 days in a year: Accounts Receivable, 12/31/20 $ 860,000 Accounts Receivable, 12/31/19 780,000 Merchandise Inventory, 12/31/20 900,000 Merchandise Inventory, 12/31/19 800,000 Net Sales during 2020 8,364,000 Cost of Sales during 2020 5,950,000 Compute the average length of time in days to sell inventory O 52.1 days O 55.3 days O 49.3 days O 48.7 days

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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