11. Hootman Shipping has sales of $950,000 and cost of goods sold of $574,200. At the beginning of the year, the inventory was $65,200. At the end of the year, the inventory balance was $74,000. What is the inventory turnover rate? (Assume a 365-day year)

12. TCI Air Freight has sales of $625,000, costs of goods sold of $375,000, average accounts receivable of $30,820, and average accounts payable of $21,600. How long does it take for the firm's credit customers to pay for their purchases? (Assume a 365-day year)

13. Hudson Enterprises has sales of $1,040,000, average accounts receivable of $41,400 and average accounts payable of $45,600. The cost of goods sold is equivalent to 63% of sales. How long does it take Hudson to pay its suppliers? (Assume a 365-day year)