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[solution]: Anthony Thomas Candies (ATC) reported the following financial


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Anthony Thomas Candies (ATC) reported the following financial data for 2016 and 2015:

 

    2016   2015
  Sales $306,000   $300,000  
  Sales returns and allowances

7,200  

5,000  

  Net sales

$298,800  

$295,000  

  Cost of goods sold:    
        Inventory, January 1 50,000   25,000  
        Net purchases

146,000  

140,000  

        Goods available for sale 196,000   165,000  
        Inventory, December 31

67,000  

50,000  

        Cost of goods sold

129,000  

115,000  

  Gross profit

$169,800  

$180,000  

 

The average days inventory for ATC for 2016 is (Round intermediate calculations to two decimal places. Round your final answer to a whole number):

rev: 11_19_2015_QC_CS-33523

240 days.165 days.Less than 100 days.225 days.


 


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