The Following Balance Sheet Information Is Provided for Patton Company

question 23

Multiple Choice

The following balance sheet information is provided for Patton Company:
$\begin{array}{lrr}\text { Assets } & \text { Year 2 } & \text { Year 1 } \\\text { Cash } & \$ 4,000 & \$ 2,000 \\\text { Accounts receivable } & 15,000 & 12,000 \\\text { Inventory } & \$ 35,000 & \$ 38,000\end{array}$
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

---

Definitions:

Electrolytes

Minerals in the body that have an electric charge, crucial for hydrating the body, regulating nerve and muscle function, balancing blood acidity and pressure.

Ions

Atoms or molecules with a net electric charge due to the loss or gain of one or more electrons.

Solution

A homogeneous mixture composed of two or more substances, where the solute is dissolved in the solvent.

Adrenal Cortex

The outer layer of the adrenal glands that produces steroid hormones such as cortisol and aldosterone, which regulate metabolism and blood pressure.