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How many days pass from the time Byers purchases inventory

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Problem - John Byers owns and operates Byers Building Supplies. The following information was taken from his financial statements:

Balance Sheet

12/31/-2

12/31/-1

Accounts Receivable

$700

$500

Inventory

300

100

 

Income Statement

Net Credit Sales

$7,200

Cost of Goods Sold

5,000

All sales are made on account.

Based on the above information, on average, approximately how many days pass from the time Byers purchases inventory until he receives cash from customers?

Reference no: EM132722240

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