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Question - The following financial information is for Chesapeake Corporation are for the fiscal years ending 2018 & 2017 (all balances are normal):
Item/Account 2018 2017
Cash $35,000 $24,000
Accounts Receivable 56,000 52,000
Inventory 46,000 34,000
Current Liabilities 76,000 42,000
Net Sales (all credit) 550,000 485,000
Cost of Goods Sold 290,000 265,000
Use this information to determine the number of days in inventory for 2018: (Use a 365 day year. Round & enter your answers to one decimal place and enter the value.)
Firm O has accounts receivable of $31,000, cash of $14,600, property, plant, and equipment of $320,000, merchandise inventory of $43,200, accounts payable of $22,100, other accrued liabilities of $7,500, common stock of $250,000, and retained earning..
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