On Dec. 31, 2013, Raff Company (see question 8) had accounts receivable of $290,000 and inventories of

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On Dec. 31, 2013, Raff Company (see question 8) had accounts receivable of $290,000 and inventories of $530,000. During 2013, net sales amounted to $2,500,000 and cost of goods sold was $750,000. Compute

(a) accounts receivable turnover,

(b) days' sales uncollected,

(c) inventory turnover, and

(d) days' sales in inventory.

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Fundamental Accounting Principles Volume 2

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21st Edition

Authors: John Wild, Ken Shaw, Barbara Chiappetta

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On Dec. 31, 2013, Raff Company (see question 8) had accounts receivable of $290,000 and inventories of

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Fundamental Accounting Principles Volume 2

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