What was the company inventory period

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Reference no: EM132014263

1. Cloche's Hats had sales for the year of $653,700 and cost of goods sold equal to 72 percent of sales. The inventory at the beginning of the year was $114,100 and the end-of-year inventory was $128,200. What was the company's inventory period? Assume 365 days in a year.

85.67 days

82.85 days

88.48 days

99.42 days

93.95 days

2. Cosplay Unlimited sells 760 outfits per year at an average price of $162. The terms of the sale are 1/10, net 30. The discount is taken by 68 percent of customers. What is the company's accounts receivable balance? Assume 365 days per year.

$6,519.64

$7,507.32

$11,131.40

$10,119.45

$5,531.97

Reference no: EM132014263

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