(Answered) Question - ms holdings is required to submit ias accounts

Accounting

Question - MS Holdings is required to submit IAS accounts. MS Holdings's retail subsidiary company, MS Popup, owns over 400 stores, each if which trades 350 days in the year. For the current financial year, MS Popup achieved sales of $700 million with a gross profit of 60% of sales, and shows the following balances: accounts receivable, £1.2 million; inventory, £80 million; accounts payable, £400 million.

Required: Calculate days' sales outstanding, days' inventory held, and days' payables outstanding for MS Popup. Comment on the company's going-concern ability. What other sources of information might MS Holdings use to assess the going-concern ability of MS Popup?

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