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| Teaching Since: | May 2017 |
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| Questions Answered: | 66690 |
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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Use the following information to solve the Questions 1, 2, and 3 below: Sellograph Corporation reports sales of $10 million for Year 2, with a gross profit margin of 40%. 20% of Sellograph's sales are on credit. ---Year 1--- Accounts receivable: $ 150,000 Inventory: $ 900,000 Accounts payable: $ 1,100,000 ---Year 2--- Accounts receivable: $ 170,000 Inventory: $ 1,000,000 Accounts payable: $ 1,200,000 3. Days in inventory at the end of Year 2 is closest to: A) 60.0 days B) 69.0 days C) 66.0 days D) 54.0 days
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