Ottawa,Inc For the Year Ending December 31,2019 Calculate the Days' Sales in Inventory for 2019

question 46

Multiple Choice

Ottawa,Inc.provides the following data: $$\begin{array} { | l | r | r | } \hline & { 2019 } & { \underline { 1018 } } \\\hline \text { Cash } & \$ 29,000 & \$ 18,000 \\\hline \text { Accounts Receivable, Net } & 40,000 & 36,000 \\\hline \text { Merchandise Inventory } & 55,000 & 25,000 \\\hline \text { Property, Plant, and Equipment, Net } & \underline { 121,000 } & \underline { 90,000 } \\\hline \text { Total Assets } & \$ 245,000 & \$ 169,000 \\\hline\end{array}$$ For the year ending December 31,2019:
$$\begin{array} { | l | r | } \hline \text { Net Credit Sales } & \$ 240,000 \\\hline \text { Cost of Goods Sold } & ( 110,000 ) \\\hline \text { Gross Profit } & \$ 130,000 \\\hline\end{array}$$ Calculate the days' sales in inventory for 2019.(Use 365 days for any calculations.Round any intermediate calculations and your final answer to two decimal places.)

• A) 82.95
• B) 182.50
• C) 60.83
• D) 132.73

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