The following balance sheet information is provided for Patton Company: Assuming Year 2 cost of goods sold is $730,000, what is the company's average days to sell inventory? (Use 365 days in a year. Do not round your intermediate calculations.) $$\begin{array} { | l | r r | r r | }
\hline \text { Assets } & & 2014 & 2013 \
\hline \text { Cash } & \$ & 4,000 & \$ & 2,000 \
\hline \text { Accounts receivable } & & 15,000 & & 12,000 \
\hline \text { Inventory } & \$ & 35,000 & \$ & 38,000 \
\hline
\end{array}$$
A)17.5 days
B)18.25 days
C)19 days
D)20.86 days

Question

The following balance sheet information is provided for Patton Company: Assuming Year 2 cost of goods sold is $730,000, what is the company's average days to sell inventory? (Use 365 days in a year. Do not round your intermediate calculations.) $$\begin{array} { | l | r r | r r | } 
\hline \text { Assets } & & 2014 & 2013 \
\hline \text { Cash } & \$ & 4,000 & \$ & 2,000 \
\hline \text { Accounts receivable } & & 15,000 & & 12,000 \
\hline \text { Inventory } & \$ & 35,000 & \$ & 38,000 \
\hline
\end{array}$$
A)17.5 days
B)18.25 days
C)19 days
D)20.86 days

Quizplus · Accepted Answer

The Answer of The following balance sheet information is provided for Patton Company: Assuming Year 2 cost of goods sold is $730,000, what is the company's average days to sell inventory? (Use 365 days in a year. Do not round your intermediate calculations.) $$\begin{array} { | l | r r | r r | } 
\hline \text { Assets } & & 2014 & 2013 \
\hline \text { Cash } & \$ & 4,000 & \$ & 2,000 \
\hline \text { Accounts receivable } & & 15,000 & & 12,000 \
\hline \text { Inventory } & \$ & 35,000 & \$ & 38,000 \
\hline
\end{array}$$
A)17.5 days
B)18.25 days
C)19 days
D)20.86 days

The Following Balance Sheet Information Is Provided for Patton Company