Data from Estrin Corporation's Most Recent Balance Sheet and Income

Data from Estrin Corporation's most recent balance sheet and income statement appear below: $\begin{array}{ll}&\text { This Year } & \text { Last Year } \\\text {Accounts receivable. }&\$ 109,000 & \$ 106,000 \\\text {Inventory. }&\$ 139,000 & \$ 158,000 \\\text {Sales on account. }&\$ 787,000 & \\\text {Cost of goods sold }&\$ 501,000 &\end{array}$ The average sale period for this year is closest to:

A) 101 days
B) 50 days
C) 108 days
D) 45 days

Correct Answer:

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