For its most recent year a company had Sales (all on credit) of $750,000 and Cost of Goods Sold of $390,000. At the beginning of the year, its Accounts Receivable were $90,000 and its Inventory was $180,000. At the end of the year, its Accounts Receivable were $120,000 and its Inventory was $200,000. Inventory turnover ratio (Answer format: 12.34) * Your answer Accounts receivable turnover ratio (Answer format: 12.34) * Your answer On average how many days of sales were in Accounts Receivable during the year? (Answer format: 12.3) *

For its most recent year a company had Sales (all on credit) of $750,000 and Cost of Goods Sold of $390,000. At the beginning of the year, its Accounts Receivable were $90,000 and its Inventory was $180,000. At the end of the year, its Accounts Receivable were $120,000 and its Inventory was $200,000. Inventory turnover ratio (Answer format: 12.34) * Your answer Accounts receivable turnover ratio (Answer format: 12.34) * Your answer On average how many days of sales were in Accounts Receivable during the year? (Answer format: 12.3) *

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 46E

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