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Author Question: Phelps Piping Company manufactures PVC pipe. The company has provided the following selected ... (Read 6 times)

dabomba718

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on: Feb 5, 2023
Phelps Piping Company manufactures PVC pipe. The company has provided the following selected financial information:

​​20202021
Accounts receivable$   70,000$   50,000
Inventory90,00070,000
Total current assets220,000250,000
Total assets580,000460,000
Current liabilities40,00030,000
Total liabilities150,000130,000
Net credit sales300,000360,000
Cost of goods sold195,000221,400
Net income56,00062,000

Required:

a.What is Phelps' accounts receivable turnover for 2021?
b.What is Phelps' gross margin percentage for 2021?
Managerial Accounting ¦ Davis ¦ 4th Edition
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Marked as best answer by dabomba718 on Feb 5, 2023

Burly

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Reply #1 on: Feb 5, 2023
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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dabomba718

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Reply 2 on: Feb 5, 2023
Thanks for the timely response, appreciate it

scottmt

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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