Please calculate all answers using excel. After calculating each question round your answer (either up or down) to the nearest whole number. Use the rounded answer to answer subsequent questions. For example: say I get the answer "1.1." for question 1.
If I need to use that answer to calculate question 2, I will round that to 1 and input "1" into question 2's calculation.
DO NOT ROUND REVENUE, CGS, AVERAGE INVENTORY VALUE, AVERAGE ACCOUNTS RECEIVABLE, OR ACCOUNTS PAYABLE.
1. Company XYZ has issued the following financial data for 2012:
Revenue: 70.2
CGS: 50.1
Average Inventory Value: 2.11
Average Accounts Receivable: 7.03
Accounts Payable: 2.15
Using the information from question 1 and/or preceding questions, calculate accounts receivable days supply.