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2013 and 2014 Selected Balance Sheet Accounts of Rian Company
Cash sales
$463,000
Credit sales $573,000
Total sales
$1,036,000
Cost of goods sold
$607,205
What is the average production cycle for Rian Company?
P13-4 (similar to)
Average production cycle.
Use the following account information for Rian Company.
2013 and 2014 Selected Balance Sheet Accounts of Rian Company
12/31/14
12/31/13
Change
Accounts receivable $42,912
$52,041
$9,129
Inventory
$62,011
$66,087
$4,076
Accounts payable
$29,433
$27,645
$1,788
2014 Selected Income Statement Items for Rian Company
Cash sales $576000
Credit sales $500000
Total sales
Cost of goods sold $554736
For the coming year, Rian Company wants to reduce its average production cycle to 39.5
days. If the target-ending inventory for 2015 is $68267, what cost of goods sold will the
company need to reach its goal?
P13-5 (similar to)
Average collection cycle. Use the following account information to find the average
collection cycle for Rian Company.
2013 and 2014 Selected Balance Sheet Accounts of Rian Company
2014 Selected Income Statement Items for Rian Company