The following balance sheet information is provided for Patton Company: $$\begin{array} { l r r }
\text { Assets } & \text { Year 2 } & \text { Year } 1 \
\text { Cash } & \$ 4,000 & \$ 2,000 \

\text { Accounts receivable } &15,000 & 12,000\
\text { Inventory } & \$ 35,000 & \$ 38,000
\end{array}$$
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.)
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: $$\begin{array} { l r r } 
\text { Assets } & \text { Year 2 } & \text { Year } 1 \
\text { Cash } & \$ 4,000 & \$ 2,000 \

\text { Accounts receivable } &15,000 & 12,000\
\text { Inventory } & \$ 35,000 & \$ 38,000 
\end{array}$$
 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.)
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: $$\begin{array} { l r r } 
\text { Assets } & \text { Year 2 } & \text { Year } 1 \
\text { Cash } & \$ 4,000 & \$ 2,000 \

\text { Accounts receivable } &15,000 & 12,000\
\text { Inventory } & \$ 35,000 & \$ 38,000 
\end{array}$$
 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.)
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