4. A company has a accounts receivable turnover of 10 times. The average accounts receivable during the period are $400,000. What is the amount of net credit sales for the period? 5. A company has an average inventory on hand of $60,000 and the days in inventory is 73 days. What is the cost of goods sold? 6. . Net sales are $8,000,000, beginning total assets are $2,500,000, and the asset turnover is 4.0 times. What is the ending total asset balance? 7. Swiss Clothing Store had a balance in the Accounts Receivable account of $820,000 at the beginning of the year and a balance of $780,000 at the end of the year. Net credit sales during the year amounted to $7,200,000. The accounts receivable turnover ratio was a. 9.0 times. b. 8.4 times. was a. 9.0 times. b. 8.4 times. C. 9.2 times. d. 8.8 times