ATTACK Company's Statement of Comprehensive Income in 2023 presented Sales Revenue amounting to P3,000,000 and...

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Accounting

ATTACK Company's Statement of Comprehensive Income in 2023 presented Sales Revenue amounting to P3,000,000 and Cost of Goods Sold of P1,700,000. Its 2023 Statement of Financial Position shows Inventory Value of P3,000,000, Accounts Receivable of P75,000 and Accounts Payable of P180,000. Last year, Inventory, Accounts Receivable and Accounts Payable amounted to P200,000, P65,000, P130,000, respectively. Calculate the Average Inventory Period and Average Payable Period.

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