Data from Ankeny Corporation's most recent balance sheet and income statement appear below:
$\begin{array}{lrr}
&\text { This Year } & \text { Last Year } \
\text {Accounts receivable }&\$ 119,000 & \$ 102,000 \
\text {Inventory }&\$ 188,000 & \$ 175,000 \
\text {Sales on account }&\$ 803,000 & \
\text { Cost of goods sold}&\$ 641,000 &
\end{array}$
Required:
Compute the average sale period for this year:

Question

Data from Ankeny Corporation's most recent balance sheet and income statement appear below: 
$\begin{array}{lrr}
&\text { This Year } & \text { Last Year } \
\text {Accounts receivable }&\$ 119,000 & \$ 102,000 \
\text {Inventory }&\$ 188,000 & \$ 175,000 \
\text {Sales on account }&\$ 803,000 & \
\text { Cost of goods sold}&\$ 641,000 &
\end{array}$
 Required:
Compute the average sale period for this year:

Quizplus · Accepted Answer

The Answer of Data from Ankeny Corporation's most recent balance sheet and income statement appear below: 
$\begin{array}{lrr}
&\text { This Year } & \text { Last Year } \
\text {Accounts receivable }&\$ 119,000 & \$ 102,000 \
\text {Inventory }&\$ 188,000 & \$ 175,000 \
\text {Sales on account }&\$ 803,000 & \
\text { Cost of goods sold}&\$ 641,000 &
\end{array}$
 Required:
Compute the average sale period for this year:

Data from Ankeny Corporation's Most Recent Balance Sheet and Income