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Author Question: The 2020 and 2021 partial balance sheets for Ottoman Manufacturing Company appear below along with ... (Read 45 times)

Katmoss16

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on: Feb 5, 2023
The 2020 and 2021 partial balance sheets for Ottoman Manufacturing Company appear below along with selected financial information:

​​20202021
Current Assets​​
  Cash$  16,000$  15,000
  Accounts receivable, net21,00019,000
  Inventory   30,000   34,000
Total current assets67,00068,000
Plant & equipment, net   60,000   40,000
Total assets$127,000$108,000
​​​
Net credit sales$130,000$120,000
Cost of goods sold 100,000   80,000
Gross profit$  30,000$  40,000

Required:

a.Calculate Ottoman's inventory turnover and average days to sell inventory for 2021.
b.Calculate Ottoman's accounts receivable turnover and average collection period for
2021.
Managerial Accounting ¦ Davis ¦ 4th Edition
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Marked as best answer by Katmoss16 on Feb 5, 2023

kaynelson17

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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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Katmoss16

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Reply 2 on: Feb 5, 2023
YES! Correct, THANKS for helping me on my review

Dominic

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Reply 3 on: Yesterday
Excellent

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