Multiple Choice
Use the following information for questions.
Nelly Inc. reported net credit sales of $24,000,000 and cost of goods sold of $18,000,000 for the year. The average inventory for the year was $6,000,000.
-The days in inventory during the year was
A) 15 days.
B) 11 days.
C) 91 days.
D) 122 days.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: The following items were taken from the
Q3: Use the following information for questions.<br>Nelly Inc.
Q4: A high receivables turnover ratio may indicate
Q5: Afrikana Inc. had a balance in the
Q7: Use the following information for questions.<br>Nelly Inc.
Q8: An inventory turnover ratio<br>A) measures the number
Q9: If, over a three-year period, sales increased
Q10: Handles Corp. reported net credit sales of
Q11: Use the following information for questions. <img
Q32: A company with $60,000 in current assets