Accounts Receivable and Inventory Ratios Favor Company, whose current assets at December 31 are shown below, had net sales for the year of $529,750 and cost of goods sold of $352,900. At the beginning of the year, accounts receivable (net) were $128,000 and inventory was $172,700. Cash Short-term investments $35,000 94,000 Accounts receivable (net) 132,000 Inventory 185,500 Prepaid expenses 16,980 Current assets $463,480 Instructions: Round turnover ratios to two decimal places. Use rounded turnover ratios to compute respective days' ratios. Round days' ratios to the nearest whole number (day). a. What is the company's accounts receivable turnover? b. What is the company's average collection period? days c. What is the company's inventory turnover? d. What is the company's days' sales in inventory? Check days