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Snow Man Inc. has accounts receivable of $4,500, inventory of $1,800, sales of $135,000, and cost...

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Finance

  1. Snow Man Inc. has accounts receivable of $4,500, inventory of$1,800, sales of $135,000, and cost of goods sold of $64,000. Howmany days does it take the firm to sell its inventory and collectthe payment on the sale assuming that all sales are on credit?(i.e. Inventory Holding Period +  Days' sales inreceivables)

    10.27 days

    18.67 days

    14.50 days

    22.43 days

    12.17 days

Answer & Explanation Solved by verified expert
3.6 Ratings (661 Votes)
Inventory Turnover Cost of Goods SoldAverage Inventory 64000 1800 3556 timesFormula for computing number of days of    See Answer
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