The Following Balance Sheet Information Is Provided for Patton Company

question 107

Multiple Choice

The following balance sheet information is provided for Patton Company: $\begin{array}{lrr}\text { Assets } & \text { Year 2 } & \text { Year 1 } \\\text { Cash } & \$ 3,300 & \$ 2,900 \\\text { Accounts receivable } & \$ 12,800 & \$ 14,800 \\\text { Inventory } & \$ 29,500 & \$ 36,500\end{array}$ Assuming Year 2 cost of goods sold is $373,000, what is the company's average days to sell inventory? (Use 365 days in a year. Do not round your intermediate calculations.)

• A) 32.29 days
• B) 28.87 days
• C) 35.72 days
• D) 54.00 days

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Definitions:

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An education institution for students, typically between the ages of 14 and 18, that follows primary school and precedes higher education.

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Illegal or antisocial behaviors committed by a person under the age of majority.

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Actions or activities that are prohibited by law, ranging from minor offenses to serious crimes against persons or property.

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Young people in the transitional stage of physical and psychological development that generally occurs during the period from puberty to legal adulthood.