Excerpts from Huckabee Company's December 31, 2024 and 2023, financial statements are presented below: 2024 2023 Accounts receivable $ 80,000 $ 72,000 Merchandise inventory 58,000 72,000 Net sales 400,000 372,000 Cost of goods sold 240,000 220,000 Huckabee's 2024 average collection period (rounded) is:
Excerpts from Huckabee Company's December 31, 2024 and 2023, financial statements are presented below: 2024 2023 Accounts receivable $ 80,000 $ 72,000 Merchandise inventory 58,000 72,000 Net sales 400,000 372,000 Cost of goods sold 240,000 220,000 Huckabee's 2024 average collection period (rounded) is:
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 2RE: On January 1, Pope Enterprises inventory was 625,000. Pope made 950,000 of net purchases during the...
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Excerpts from Huckabee Company's December 31, 2024 and 2023, financial statements are presented below:
2024 | 2023 | |
---|---|---|
Accounts receivable | $ 80,000 | $ 72,000 |
Merchandise inventory | 58,000 | 72,000 |
Net sales | 400,000 | 372,000 |
Cost of goods sold | 240,000 | 220,000 |
Huckabee's 2024 average collection period (rounded) is:
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