Guttery Corporation has provided the following financial data from its balance sheet: Year 2Year 1Accounts receivable, net$112,000 $110,000 Inventory$174,000 $150,000 Total assets$1,236,000 $1,250,000 Sales on account in Year 2 totaled $1,450,000 and cost of goods sold totaled $900,000.The company's average collection period for Year 2 is closest to:
A. 1.0 days
B. 27.9 days
C. 28.2 days
D. 1.1 days
Answer: B
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