Homework Answers
1.
Inventory = $1,749
Cost of goods sold = Sales * 60% = $25,813 * 60% = $15,487.80
Days of sales in inventory = (Inventory / cost of goods sold) *
365
= ($1,749/$15,487.80)*365
= 41.22 days or 41.00 days
2.
Accounts payable = $1,191
Cost of goods sold = $25,809 * 77% = $19,872.93
Days payable outstanding = (Accounts payable / Cost of goods
sold) * 365
= ($1,191 / $19,872.93) * 365
= 21.87 days or 22.00 days
3.
Days of sales outstanding = (Accounts receivables / Total credit
sales) * 365
= ($3,986 / $20,077) * 365
= 72.46 days or 72.00 days
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