South Texas Trucking Inc. provides the following year end data: 20
South Texas Trucking Inc. provides the following year end data:
2018 2017
Cash $54,000 $28,000
Accounts Receivable 40,000 38,000
Merchandise Inventory 70,000 27,000
Property, Plant & Equip. 109,000 93,000
Sales Revenue $370,000
Cost of Goods Sold 140,000
Cost Profit 130,000
Calculate days' sales in inventory for 2018
Homework Answers
Inventory Turnover = Cost of Goods Sold/Average inventory
= 140,000/[(70,000+27,000)/2]
= 140,000/48,500
= 2.89
Days sales in inventory = 365/Inventory Turnover
= 365/2.89
= 126.3 days
| Note that I have rounded some numbers. Comment if you face any issues |
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Prepare a Satement of Cash Flow for the current year usinf the
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Prepare a Statement of Cash Flow for the current year using
the indirect method
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