Asset Efficiency Ratios}

Rumsford Inc.'s financial statements for 2018 indicate the following account balances:

\section*{Required:}
1. Using this information, calculate Rumsford's receivable turnover ratio. (Note: Round to two decimal places.)
2. Using this information, calculate Rumsford's asset turnover ratio and also convert the ratio into days.
\section*{Brief Exercise

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Net sales $256,340 Cost of goods sold 162,000 Average accounts receivable 18,710 Average inventory 3,845 Average property, plant, and equipment 72,345 Average total assets 119,124