Data from Estrin Corporation's Most Recent Balance Sheet and Income

question 194

Multiple Choice

Data from Estrin Corporation's most recent balance sheet and income statement appear below:
$\begin{array}{lll}&\text { This Year}&\text { Last Year }\\\text { Accounts receivable ........ } & \$ 109,000 & \$ 106,000 \\\text { Inventory .................... } & \$ 139,000 & \$ 158,000 \\\text { Sales on account ........... } & \$ 787,000 & \\\text { Cost of goods sold.......... } & \$ 501,000 &\end{array}$ The average sale period for this year is closest to:

• A) 101 days
• B) 50 days
• C) 108 days
• D) 45 days

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