Last year Delightful Desserts had a quick ratio of 2.2, a current ratio of 5.0, an inventory turnover of 8, total current assets of $285,000, and cash and equivalents of $36,000. If the cost of goods sold equaled 80 percent of sales, what were Bailey's annual sales and days' sales outstanding (DSO)? Assume there are 360 days in a year. Round your answer for annual sales to the nearest dollar and answer for DSO to one decimal place. Annual sales: $ DSO:
Last year Delightful Desserts had a quick ratio of 2.2, a current ratio of 5.0, an inventory turnover of 8, total current assets of $285,000, and cash and equivalents of $36,000. If the cost of goods sold equaled 80 percent of sales, what were Bailey's annual sales and days' sales outstanding (DSO)? Assume there are 360 days in a year. Round your answer for annual sales to the nearest dollar and answer for DSO to one decimal place. Annual sales: $ DSO:
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter21: Supply Chains And Working Capital Management
Section: Chapter Questions
Problem 11P: Negus Enterprises has an inventory conversion period of 50 days, an average collection period of 35...
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Last year Delightful Desserts had a quick ratio of 2.2, a current ratio of 5.0, an inventory turnover of 8, total current assets of $285,000, and cash and equivalents of $36,000. If the cost of goods sold equaled 80 percent of sales, what were Bailey's annual sales and days' sales outstanding (DSO)? Assume there are 360 days in a year. Round your answer for annual sales to the nearest dollar and answer for DSO to one decimal place.
Annual sales: $
DSO:
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