question archive A recent annual report of Gateway $2000 , Inc
A recent annual report of Gateway $2000 , Inc
Subject:AccountingPrice: Bought3
A recent annual report of Gateway $2000 , Inc. , shows : cost of goods sold. $4,072; inventory at the beginning of the year, $225; and inventory at the end of the year. $278. (These dollar amounts are in millions) a . Compute the inventory turnover rate for the year ( round to the nearest tenth) b . Using the assumption of 365 days in a year , compute the number of days required for the pany to sell the amount of its average inventory ( round to the nearest day) c Assume that an average of 30 days is required for Gateway to collect its accounts receivable What is the length of Gateway's operating cycle?
