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6 Silver Clothiers reported the following selected items at April 3 0 , 2 0 2 0 ( previous year s 2 0 1 9
Silver Clothiers reported the following selected items at April previous
yearsamounts also given as needed:
Accounts Payable $ Accounts Receivable, net
Cash........................................... April $
Inventory April
April Cost of Goods Sold...............
April Shortterm Investments.......
Net Credit Sales Revenue....... Other Current Assets
Longterm Assets Other Current Liabilities
Longterm Liabilities
Compute Silvers a acidtest ratio, b accounts receivable turnover ratio, and c
days sales in receivables using the turnover ratio for the year ending April
Evaluate each ratio value as strong or weak. Silver sells on terms of net Round
days sales in receivables to a whole number.
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