Hind Company Presents the Following Data for 2012 Required:
A

question 60

Essay

Hind Company presents the following data for 2012:
$\begin{array}{c}\begin{array}{lll} \text {Accounts Receivable, less allowance for doubtful accounts of \( \$ 40,000 \) }\\ \text {Ending Inventory, LIFO (estimated replacement cost \( \$ 800,000 \) ) }\\ \text {Net Sales}\\ \text {Cost of Goods Sold (estimated replacement cost, \( \$ 4,150,000 \) )} \end{array}\begin{array}{lll}\$780,000\\500,000\\4,750,000\\3,550,000\end{array}\end{array}$

Required:
a.Compute the days' sales in receivables.
b.Compute the days' sales in inventory,using the cost figure.
c.Compute the days' sales in inventory,using the replacement cost for the inventory and the cost of goods sold.
d.Explain which days' sales in inventory figure is probably more realistic,the one computed in (b)or (c).

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Definitions:

Bottlenecks

Events that drastically reduce the size of a population, leading to loss of genetic variation and increasing the influence of genetic drift.

Inbreeding

The breeding or mating of closely related individuals, which can lead to an increased chance of offspring inheriting genetic disorders or traits.

Antagonistic Pleiotropy

A situation where a single gene controls for more than one trait, where at least one of these traits is beneficial to the organism's fitness and at least one is detrimental.

Childbirth

The process of delivering a baby from the uterus to the outside world.