Calculate the inventory turnover ratio for the year

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For its most recent year a company had Sale sCost of Goods Sold Accounts Receivable Inventory (all on credit) of $830,000 and of $525,000. At the beginning of the year its were $80,000 and its was $100,000. At the end of the year its Accounts Receivable were $86,000 and its Inventory was $110,000.

Problem 1: Calculate (i) the inventory turnover ratio for the year (ii) accounts receivable turnover ratio for the year (iii) the average days of sales were in Accounts Receivable during the year (iv) average days of sales in Inventory during the year.

Reference no: EM132968713

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