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Compute the accounts receivable turnover in days

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Reference no: EM131698479

Question: Liquidity Analysis The following selected information is taken from the financial statements of Arnn Company for its most recent year of operations:

350_Arnn Company.png

During the year, Arnn had net sales of $2.45 million. The cost of goods sold was $1.3 million.

Required: 1. Compute the current ratio.

2. Compute the quick or acid-test ratio.

3. Compute the accounts receivable turnover ratio.

4. Compute the accounts receivable turnover in days.

5. Compute the inventory turnover ratio.

6. Compute the inventory turnover in days.

Reference no: EM131698479

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