Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. snow man inc. has accounts receivable of $4,500, i

Snow Man Inc. has accounts receivable of $4,500, inventory of $1,800, sales of $135,000, and cost...

60.1K

Verified Solution

Question

Finance

  1. Snow Man Inc. has accounts receivable of $4,500, inventory of$1,800, sales of $135,000, and cost of goods sold of $64,000. Howmany days does it take the firm to sell its inventory and collectthe payment on the sale assuming that all sales are on credit?(i.e. Inventory Holding Period +  Days' sales inreceivables)

    10.27 days

    18.67 days

    14.50 days

    22.43 days

    12.17 days

Answer & Explanation Solved by verified expert
3.6 Ratings (661 Votes)
Inventory Turnover Cost of Goods SoldAverage Inventory 64000 1800 3556 timesFormula for computing number of days of    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

Over exploitation for food and commercial use are some of the key challenges to conservation in...

Physics
1.2K views

1 3 rod of mass m and length is hanging at one end as shown...

Physics
1.2K views

3 y t 4 sin nt 2 y projection of the raidus vecotr of rotating...

Geometry
1.2K views

11 A forest ranger in a tower sights a fire 180 meters away If the...

Basic Math
1.2K views

Exercise 4 The graph below is one complete cycle of the graph of an equation...

Accounting
1.2K views

These types of controls are aimed to remedy an identified situation that can cause misstatements...

Accounting
1.2K views

HiTech Products manufactures three types of remote-control devices: Economy, Standard, and Deluxe. The company, which...

Accounting
1.2K views

Problem 5-2A a-b,d (Video) Ivanhoe Diesel owns the Fredonia Barber Shop. He employs 5 barbers...

Accounting
1.2K views

Strong Metals Inc. purchased a new stamping machine at the beginning of the year at...

Accounting
1.2K views

Ahmed is the manager of Mansora hotel, one of a chain of hotels located in...

Accounting
1.2K views

In what ways did they seem to share certain assumptions about Roman cultural institutions?

Accounting
1.2K views

Problem 3-11(Algo) T-Account Analysis of Cost Flows [LO3-2, LO3-3, LO3-4] Selected T-accounts of...