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Accounts Receivable and Inventory Ratios Bell Company had the following current assets at year-end: Cash $65,250 Short-term investments 111,150 Accounts receivable (net) 382,500 Inventory
Accounts Receivable and Inventory Ratios Bell Company had the following current assets at year-end: Cash $65,250 Short-term investments 111,150 Accounts receivable (net) 382,500 Inventory 450,000 Prepaid expenses 26,100 Current assets $1,035,000 The company had net sales for the year of $2,115,000 and cost of goods sold of $1,292,500. At the beginning of the year, Bell's accounts receivable (net) were $368,000 and its Inventory was $448,500. a. What is the company's accounts receivable turnover for the year? (Round to two decimal places.) b. What is the company's average collection period for the year? (Round to one decimal place.) c. What is the company's inventory turnover for the year? (Round to two decimal places.) d. What is the company's days' sales in inventory for the year? (Round to one decimal place.) Check
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