The Flower Shoppe Has Accounts Receivable of $3,709, Inventory of $4,407

question 27

Multiple Choice

The Flower Shoppe has accounts receivable of $3,709, inventory of $4,407, sales of $218,640, and cost of goods sold of $167,306. How many days does it take the firm to both sell its inventory and collect the payment on the sale assuming that all sales are on credit?

• A)14.67 days
• B)15.81 days
• C)16.23 days
• D)17.18 days
• E)17.47 days

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Definitions:

Explicit Memories

Memories that one can intentionally remember, like specific details and happenings.

Nondeclarative

A type of long-term memory that stores skills, habits, and learned responses, it operates unconsciously and manifests through performance rather than conscious recollection.

Long-Term Memory

The capacity for holding, storing, and retrieving information over prolonged periods, often encompassing a lifetime.

Alzheimer's Disease

A progressive neurodegenerative disorder characterized by cognitive decline, memory loss, and changes in behavior, attributed to brain cell death and the breakdown of connections between neurons.