Calculate fredericks receivable turnover ratio

Assignment Help Financial Accounting

Reference no: EM13938890

ASSET EFFICIENCY RATIOS

Selected financial statement numbers for Frederick Company are given below.

Net sales	$277,480
Cost of goods sold	179,000
Average accounts receivable	20,730
Average inventory	4,145
Average property, plant, and equipment	75,705
Average total assets	126,127

Required:

1. Using this information, calculate Frederick's receivable turnover ratio (round to two decimal places).

2. Using this information, calculate Frederick's asset turnover ratio and also convert the ratio into days.

Reference no: EM13938890

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