Question - The 2013 and 2014 partial balance sheets for Ottoman Industries is shown below.
|
2013
|
2014
|
|
Current Assets
|
|
|
|
Cash
|
$16,000
|
$14,000
|
|
Accounts Receivable, net
|
20,000
|
24,000
|
|
Inventory
|
30,000
|
28,000
|
|
Total Current Assets
|
66,000
|
66,000
|
|
Plant & Equipment, net
|
60,000
|
40,000
|
|
Total Assets
|
126,000
|
106,000
|
Sales revenue for Ottoman was $120,000 for 2013 and $114,000 for 2014 while cost of goods sold was $82,400 for 2013 and $72,500 for 2014.
What is the average days to sell inventory for 2014?
141 days
146 days
133 days
137 days