Mumford Limited had the following financial statement account balances for 2022. Net Sales $356,420 Cost of Goods Sold 152,000 Average Accounts Receivable 19,710 Average Inventory 4,845 average Property, Plant and Equipment 72,345 Calculate the accounts receivable turnover ratio and also convert the ration into days. (Round to 2 decimal places) Using this information, calculate the asset turnover ratio and also convert the ratio into days. (Round to 2 decimal places)

Answer rating: 100% (QA)

To calculate the accounts receivable turnover ratio we use the formula Accounts Receivable Turnover ... View the full answer