FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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How much is the gross profit for the year?
a. 120,000 b. 130,000 C. 132,000 d. 146,000

22. The records of BRACKISH SALTY Co. showed the following information:
Accounts receivable, net, Jan. 1, 20x1
Accounts receivable, net, Dec. 31, 20x1
Accounts receivable turnover
40,000
160,000
4:1
120,000
Inventory, Jan. 1, 20x1
Inventory, Dec. 31, 20x1
Inventory turnover
60,000
3:1
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Transcribed Image Text:22. The records of BRACKISH SALTY Co. showed the following information: Accounts receivable, net, Jan. 1, 20x1 Accounts receivable, net, Dec. 31, 20x1 Accounts receivable turnover 40,000 160,000 4:1 120,000 Inventory, Jan. 1, 20x1 Inventory, Dec. 31, 20x1 Inventory turnover 60,000 3:1
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