Accounts Receivable and Inventory Ratios Purple Company, whose current assets at December 31 are shown below, had net sales for the year of $580,000 and cost ofgoods sold of $339,000. At the beginning ofthe year, accounts receivable (net) were $121,000 and inventory was $160,500. Cash and cash equalents $13,000 Short-term investments 90,000 Accounts receivable (net) 125,000 Inventory 178,500 Prepaid expenses 11,500 Current assets $418,000 Instructions: . Round turnover ratios to two decimal places. . Use rounded turnover ratios to compute respective days' ratios. 0 Round days' ratios to the nearest whole number (day). a. What is the com pa nv's accounts receivable turnover? 0 b. What is the company's average collection period? 0 days c. What is the company's inventory turnover? 0 ci. What is the company's davs' sales in inventory? 0 days