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Use the following account information for Problems 3 through 8 D. 2017 and 2018 Selected Balance Sheet Accounts of Rian Company 12/31/17 Change Accounts receivable Inventory Accounts payable Cash sales Credit sales Total sales 12/31/18 Cost of goods sold $38,000 $55,000 $ 27,000 $46,000 $59,000 $25,000 2018 Selected Income Statement Items for Rian Company $298,000 $672,000 $970,000 -$8,000 $570,000 -$4,000 $2,000 3. Average production cycle. Find the average production cycle for Rian Company 4. Average production cycle. For the coming year, Rian Company wants to reduce its average production cycle to thirty days. If the target-ending inventory for 2019 is $61,000, what cost of goods sold will the company need to reach its goal? 5. Average collection cycle. What is the average collection cycle for Rian Company? 6. Average collection cycle Rian Company had set a target of twenty days for the collection cycle for 2018. If total sales had remained at $970,000, how much of the sales revenue would have needed to be cash sales for the company to have met the collection goal? 7. Average accounts payable cycle. Calculate Rian Company's average accounts payable cycle 8. Average accounts payable cycle. Rian Company had set a target of fifteen days for its payment (accounts payable) cycle. What would the ending balance in the accounts payable account have needed to be to reach this target (holding all other accounts the same)?

Use the following account information for Problems 3 through 8. 2017 and 2018 Selected Balance Sheet Accounts of Rian Comnanv 2018 Selected Income Statement Items for Rian Combanv. 3. Average production cycle Find the average production cycle for Rian Company 4. Average production cycle. For the coming year, Rian Company wants to reduce its average production cycle to thirty days. If the target-ending inventory for 2019 is $61,000, what cost of goods sold will the company need to reach its goal? 5. Average collection cycle. What is the average collection cycle for Rian Company? 6. Average collection cycle. Rian Company had set a target of twenty days for the collection cycle for 2018 . If total sales had remained at $970,000, how much of the sales revenue would have needed to be cash sales for the company to have met the collection goal? 7. Average accounts payable cycle. Calculate Rian Company's average accounts payable cycle. 8. Average accounts payable cycle. Rian Company had set a target of fifteen days for its payment (accounts payable) cycle. What would the ending balance in the accounts payable account have needed to be to reach this target (holding all other accounts the same)? Use the following account information for Problems 3 through 8 2017 and 2018 Selected Balance Sheet Accounts of Rian Company 2018 Selected Income Statement Items for Rian Company 3. Average production cycle. Find the average production cycle for Rian Company. 4. Average production cycle. For the coming year, Rian Company wants to reduce its average production cycle to thirty days. If the target-ending inventory for 2019 is $61,000, what cost of goods sold will the company need to reach its goal? 5. Average collection cycle What is the average collection cycle for Rian Company? 6. Average collection cycle. Rian Company had set a target of twenty days for the collection cycle for 2018 . If total sales had remained at $970,000, how much of the sales revenue would have needed to be cash sales for the company to have met the collection goal? 7. Average accounts payable cycle Calculate Rian Company's average accounts payable cycle. 8. Average accounts payable cycle. Rian Company had set a target of fifteen days for its payment (accounts payable) cycle. What would the ending balance in the accounts payable account have needed to be to reach this target (hoiding all other accounts the same)

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