Anna Banana Company would like to estimate how long it will take to realize cash from its ending inventory. For this purpose, the following data are submitted:
|
Accounts receivable, less allowance for doubtful accounts of $30,000 |
560,000 |
|
Ending inventory |
680,000 |
|
Net sales |
4,350,000 |
|
Cost of goods sold |
3,600,000 |
Required
Estimate how long it will take to realize cash from the ending inventory.