Nobell Ltd Provides the Following Data Calculate Days' Sales in Inventory for 2017

question 14

Multiple Choice

Nobell Ltd provides the following data:
$\begin{array}{|l|l|l|}\hline&2017&2016\\\hline \text { Cash } & \$ 25,000 & \$ 23,000 \\\hline \text { Accounts receivable, net } & 31,000 & 40,000 \\\hline \text { Inventory } & 58,000 & 27,000 \\\hline \text { Property, plant and equipment, net } & 128,000 & 90,000 \\\hline \text { Total assets } & \$ 242,000 & \$ 180,000 \\\hline\end{array}$
$$\begin{array} { | l | l | } \hline \text { Net credit sales } & \$ 290,000 \\\hline \text { Cost of sales } & ( 140,000 ) \\\hline \text { Gross profit } & \$ 150,000 \\\hline\end{array}$$
Calculate days' sales in inventory for 2017.

• A) 53.49
• B) 70.39
• C) 110.94
• D) 151.21

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Definitions:

Sulci

The grooves or furrows on the surface of the brain, involved in dividing the brain into various lobes.

Gyri

The ridges or folds on the surface of the brain, which increase the brain's surface area and are involved in various cognitive processes.

Ventricles

Cavities within the brain filled with cerebrospinal fluid, aiding in cushioning the brain and maintaining intracranial pressure.

Limbic System

A complex system of nerves and networks in the brain, responsible for instinct and mood. It controls the basic emotions and drives.