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Based on the following data for the current year, what is the number of days' sales in inventory?  Net sales on account during year P1,204,000  Cost of goods sold during year 657,000  Accounts receivable 120,000  Inventory 80,000  a. 66. 67 days c. 36.38 days  b. 44.44 days d. 24.25 days

Based on the following data for the current year, what is the number of days' sales in inventory?  Net sales on account during year P1,204,000  Cost of goods sold during year 657,000  Accounts receivable 120,000  Inventory 80,000  a. 66. 67 days c. 36.38 days  b. 44.44 days d. 24.25 days

Financial Accounting
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter7: Inventories
Section: Chapter Questions
Problem 8PEB: Financial statement data for years ending December 31 for Tango Company follow: a. Determine the...
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Based on the following data for the current year, what is the number of days' sales in inventory? 

Net sales on account during year P1,204,000 

Cost of goods sold during year 657,000 

Accounts receivable 120,000 

Inventory 80,000 

a. 66. 67 days c. 36.38 days 

b. 44.44 days d. 24.25 days   

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