The Following Information Is Available for Blankenship Company for the Most

question 36

Multiple Choice

The following information is available for Blankenship Company for the most recent year.
$\begin{array}{lr}\text { Sales } & \$ 1,100,000 \\\text { Cost of goods sold } & 760,000 \\\text { Gross profit } & 340,000 \\\text { Net income } & 85,000 \\\text { Accounts receivable (average \# of days to sell inventory) } & 90,000 \\\text { Inventory (50 days) } & 105,000\end{array}$
What was Blankenship's operating cycle for the most recent year? (Round to the nearest whole day.)

• A) 30 days
• B) 50 days
• C) 80 days
• D) 120 days

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Definitions:

Cast Iron

A type of iron that is highly carbonized, making it notably hard and brittle, used extensively in construction and cookware.

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A major river in the United Kingdom, notable for being the longest in Great Britain, flowing through Wales and England.

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A traditional trip through Europe undertaken by mainly upper-class European young men of means, to finish their education in the 17th to 19th centuries.

Veduta

A highly detailed, usually large-scale painting or, more often, print of a cityscape or some other vista.