Business, 01.05.2021 01:00 jforeman42
The Balance Sheet and Income Statement of the Company as of and for the twelve months ended December 31, 2020 shows the following information (in thousands):
Opening (i. e., beginning of year) and Ending balances
Accounts Receivable Opening $4,155 Ending. $5,155
Accounts Payable Opening $5,200 Ending $5,834
Inventory Opening $3,000 Ending $5,000
Sales on Credit (12months) 40,757 Cost of Goods Sold (COGS) (12 months) $28,744
Required:
Using this information, how many days are in the Inventory Conversion Period for the year (ROUND TO WHOLE DAY IF NECESSARY)?
Answers: 1
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The Balance Sheet and Income Statement of the Company as of and for the twelve months ended December...
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