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What huckabee receivables turnover is

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Reference no: EM132687688

Excerpts from Huckabee Company's December 31, 2018 and 2017, financial statements are presented below:

                                        2018              2017

Accounts receivable         $98,000                 $90,000

Merchandise inventory      76,000              90,000

Net sales                           418,000         390,000

Cost of goods sold             258,000             238,000

Problem 1: Huckabee's 2018 receivables turnover (rounded to 2 decimal places) is:

Option 1: 4.27.

Option 2: 4.45.

Option 3: 2.74.

Option 4: 3.11.

Option 5: None of the above.

Reference no: EM132687688

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