The 2020, 2021, and 2022 partial balance sheets for Ottoman Manufacturing Company appear below. 2020 2021 2022 Current assets Cash $20000 $ 16000 $ 14000 Accounts receivable, net 28000 20000 24000 Inventory 22000 30000 28000 Total current assets 70000 66000 66000 Plant & equipment, net 62000 60000 40000 Total assets $132000 $126000 $106000 Net credit sales for Ottoman were $126000 for 2020, $120000 for 2021, and $114000 for 2022, while the cost of goods sold was $84000 for 2020, $82400 for 2021, and $72500 for 2022. What is the average number of days to sell inventory for 2022? (a) 133 days (b) 137 days (c) 141 days (d) 146 days
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
The 2020, 2021, and 2022 partial balance sheets for Ottoman Manufacturing Company appear below.
|
2020
|
2021
|
2022
|
|
|---|---|---|---|
|
Current assets
|
|||
|
Cash
|
$20000 | $ 16000 | $ 14000 |
|
Accounts receivable, net
|
28000 | 20000 | 24000 |
|
Inventory
|
22000 | 30000 | 28000 |
|
Total current assets
|
70000 | 66000 | 66000 |
|
Plant & equipment, net
|
62000 | 60000 | 40000 |
|
Total assets
|
$132000
|
$126000
|
$106000
|
Net credit sales for Ottoman were $126000 for 2020, $120000 for 2021, and $114000 for 2022, while the cost of goods sold was $84000 for 2020, $82400 for 2021, and $72500 for 2022.
What is the average number of days to sell inventory for 2022?
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