Question 2 of 12 - Week 4 Perform
.pdf
School
Colorado Technical University**We aren't endorsed by this school
Course
ACC 325
Subject
Accounting
Date
Dec 18, 2024
Pages
1
Uploaded by AgentThunderWolverine24
View PoliciesCurrent Attempt in ProgressThe following information was taken from the accounting records for Aurora Manufacturing, Inc.:Year 5UnauditedYear 4AuditedYear 3AuditedYear 2AuditedYear 1AuditedInventory$525,000$460,000$390,000$310,000$225,000Current assets1,350,0001,175,000950,000750,000600,000Accounts payable115,000113,00097,50085,00070,000Current liabilities545,000535,000440,000380,000320,000Sales2,700,0002,050,0001,750,0001,400,0001,200,000Cost of goods sold1,650,0001,225,0001,025,000850,000725,000Industry MedianAccounts payable turnover days31302930Cost of goods sold to average accounts payable10.711.210.911.1Current ratio1.92.22.32.1Calculate the following information and ratios for years 2, 3, 4, and 5: Year 5UnauditedYear 4AuditedPurchases$ $ $Accounts Payable Turnover in DaysdaysdaysCost of Goods Sold to Average Accounts PayableCurrent RatioeTextbook and MediaSave for LaterAttempts: 0 of 2 usedSubmit Answer
