FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Cash and cash equivalents Accounts receivable (net) Inventory Other current assets Total current assets Total current liabilities End of Year $800 Accounts receivable turnover Average collection period Inventory turnover 2,040 Days in inventory 830 160 $3,830 $2,060 Beginning of Year $79 1.850 For the year, net credit sales were $8,258 million, cost of goods sold was $5,328 million, and net cash provided by operating activities was $1.251 million. Compute the... accounts receivable turnover, average collection period, inventory turnover, and days in inventory for the current year. (Round current ratio to 2 decimal places, e.g. 1.83 and all other answers to 1 decimal place, es 1.8. Use 365 days for calculation) 42 869 870 63 321 57.9 $3,120 $1,600 times days times days
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Transcribed Image Text:Cash and cash equivalents Accounts receivable (net) Inventory Other current assets Total current assets Total current liabilities End of Year $800 Accounts receivable turnover Average collection period Inventory turnover 2,040 Days in inventory 830 160 $3,830 $2,060 Beginning of Year $79 1.850 For the year, net credit sales were $8,258 million, cost of goods sold was $5,328 million, and net cash provided by operating activities was $1.251 million. Compute the... accounts receivable turnover, average collection period, inventory turnover, and days in inventory for the current year. (Round current ratio to 2 decimal places, e.g. 1.83 and all other answers to 1 decimal place, es 1.8. Use 365 days for calculation) 42 869 870 63 321 57.9 $3,120 $1,600 times days times days
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Step 2: Accounts Receivable Turnover -
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Step 3: Average Collection Period -
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Step 4: Inventory Turnover
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Step 5: Days
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