Purple Company, whose current assets at December 31 are shown in Exercise E13-6B, had net sales for
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Purple Company, whose current assets at December 31 are shown in Exercise E13-6B, had net sales for the year of \(\$ 580,000\) and cost of goods sold of \(\$ 339,000\). At the beginning of the year, accounts receivable (net) were \(\$ 121,000\) and inventory was \(\$ 160,500\).
a. What is the company's accounts receivable turnover?
b. What is the company's average collection period?
c. What is the company's inventory turnover?
d. What is the company's days' sales in inventory?
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