The Following Balance Sheet Information Is Provided for Patton Company

question 29

Multiple Choice

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