Zucha Corporation has an inventory period of 55 days, an accounts receivable (A/R) period of 6 days, and an accounts payable (A/P) period of 3 days. The company's annual sales is $182,795. Answer following questions.
(1) How many times per year does the company turn over its inventory?
(2) If the companyAc€?cs cost of goods sold (COGS) is 60 percent of the annual sales, what is its average inventory?
- 6.6364 times; $16,527
- 6.6364 times; $27,544
- 6.2931 times; $17,428
- 6.2931 times; $30,636
- 5.9836 times; $18,330