Burnside's has accounts receivable of $42,600,inventory of $97,200,sales of $614,200,and cost of goods sold of $298,400.How long does it take the firm to sell its inventory and collect payment on the sale?
A)107.14 days
B)136.06 days
C)127.78 days
D)144.21 days
E)115.52 days

Question

Quizplus · Accepted Answer

Total days in inventory and receivables = 365 / ($298,400 / $97,200)+ 365 / ($614,200 / $42,600)= 144.21 days

Burnside's Has Accounts Receivable of $42,600,inventory of $97,200,sales of $614,200,and