Reference no: EM132440664
Question - Betty Company shows the following data on its 2013 financial statements:
Accounts receivable, January 1 $720,000
Accounts receivable, December 31 $ 960,000
Merchandise inventory, January 1 $900,000
Merchandise inventory, December 31 $1,020,000
Net sales 4,620,000
Cost of goods sold 3,360,000
Net income 384,000
Calculate the days' sales in inventory ratio?