Based on the following data for the current year, what is the number of days' sales in receivable?Net sales on account during year$495,046Cost of goods sold during year202,912Accounts receivable, beginning of year45,637Accounts receivable, end of year52,238Inventory, beginning of year94,359Inventory, end of year104,951Round your answer up to the nearest whole day.

Question
Asked Oct 18, 2019

Based on the following data for the current year, what is the number of days' sales in receivable?

Net sales on account during year $495,046
Cost of goods sold during year 202,912
Accounts receivable, beginning of year 45,637
Accounts receivable, end of year 52,238
Inventory, beginning of year 94,359
Inventory, end of year 104,951

Round your answer up to the nearest whole day.

check_circleExpert Solution
Step 1

Calculate accounts receivable ...

Net credit sales
Accounts receivable turnover
Average accounts receivables
S495,046
S45,637+S52,238
2
$495,046
$48,937.5
10.116times
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Net credit sales Accounts receivable turnover Average accounts receivables S495,046 S45,637+S52,238 2 $495,046 $48,937.5 10.116times

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