FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Happy Times Inc. disclosed the following information in the firm's recent annual report for 2023: $898,000 in net sales, $562,100 in cost of goods sold, $48,120 in net income,
and $124,200 in inventories. Additionally, in 2022, the company reported $186,400 in inventories. Determine the firm's 2023 average days to sell inventory.
80.65 days
100.84 days
50.48 days
Not enough information is provided to determine
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Transcribed Image Text:Happy Times Inc. disclosed the following information in the firm's recent annual report for 2023: $898,000 in net sales, $562,100 in cost of goods sold, $48,120 in net income, and $124,200 in inventories. Additionally, in 2022, the company reported $186,400 in inventories. Determine the firm's 2023 average days to sell inventory. 80.65 days 100.84 days 50.48 days Not enough information is provided to determine
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