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:

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The cost associated with placing advertisements in various media channels like television, radio, print, or online.

Television Viewership

The number of viewers or audience size that watch television programming at a given time.

Mystery Shoppers

Individuals hired to pose as customers and evaluate the quality of service, product, and environment of retail stores or other businesses.

Quality

The degree to which a product, service, or process meets or exceeds customer expectations or standards.