The Following Balance Sheet Information Is Provided for Patton Company

question 142

Multiple Choice

The following balance sheet information is provided for Patton Company: Assuming Year 2 cost of goods sold is $730,000, what is the company's average days to sell inventory? (Use 365 days in a year. Do not round your intermediate calculations.)

• A)17.5 days
• B)18.25 days
• C)19 days
• D)20.86 days

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Definitions:

Predict Behavior

The process of forecasting future actions or reactions of individuals based on observed or known patterns.

Personality Trait

A characteristic way of thinking, feeling, and behaving that is consistent over time and across situations.

Everyday Intuitions

The unconscious, quick judgments and decisions that people make daily without deliberate analytical thought.

Personality Consistency

The degree to which an individual's personality traits remain stable over time and across different situations.