Accounts Receivable and Inventory Ratios Ritter Company, whose current assets at December 31 are shown below, had net sales for the year of $850,000 and cost of good sold of 5550.000. At the beginning of the year, Ritter's accounts receivable (net) were $160,000 and its inwentory was $175,000 Cash 532.000 Short-term investments 49.300 Accounts receivable net 170,000 inventory 200,000 Prepaid expenses 11.000 Current assets 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 for the year? 5.15 b. What is the company's average collection period for the year? 71 days c. What is the company's inventory turnover for the year? 3.93 X d. What is the company's days' sales in inventory for the year? 125 days