The Flower Shoppe has accounts receivable of $3,506, inventory of $4,407, sales of $218,640 and cost of goods sold of $169,290. How many days does it take the firm to sell its inventory and collect the payment on the sale assuming that all sales are on credit? a. 14.67 b. 15.35 C. 16.23 d. 17.18 e. 17.47

The Flower Shoppe has accounts receivable of $3,506, inventory of $4,407, sales of $218,640 and cost of goods sold of $169,290. How many days does it take the firm to sell its inventory and collect the payment on the sale assuming that all sales are on credit? a. 14.67 b. 15.35 C. 16.23 d. 17.18 e. 17.47

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 10MC: A retailer pays on credit for $650 worth of inventory, terms 3/10, n/40. If the merchandiser pays...

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