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Accounts receivable turnover, inventory turnover, and net margin Selected data from Komar Company follow. Balance Sheet As of December 31 2014 2013 Accounts receivable $
Accounts receivable turnover, inventory turnover, and net margin
Selected data from Komar Company follow.
Balance Sheet As of December 31 | ||||||
2014 | 2013 | |||||
Accounts receivable | $ | 396,000 | $ | 373,000 | ||
Allowance for doubtful accounts | (19,800 | ) | (14,920 | ) | ||
Net accounts receivable | $ | 376,200 | $ | 358,080 | ||
Inventories, lower of cost or market | $ | 482,000 | $ | 446,000 | ||
Income Statement for the Years Ended December 31 | ||||||||||
2014 | 2013 | |||||||||
Net credit sales | $ | 2,018,000 | $ | 1,757,000 | ||||||
Net cash sales | 416,000 | 311,000 | ||||||||
Net sales | 2,434,000 | 2,068,000 | ||||||||
Cost of goods sold | 1,592,000 | 1,420,000 | ||||||||
Selling, general, and administrative expenses | 240,100 | 214,200 | ||||||||
Other expenses | 40,900 | 23,100 | ||||||||
Total operating expenses | $ | 1,873,000 | $ | 1,657,300 | ||||||
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b. Compute the inventory turnover for 2014. (Round your answer to 2 decimal places.)
INVENTORY TURNOVER ( ) times
c. Compute the net margin for 2013. (Round your answer to 2 decimal places. (i.e., .2345 should be entered as 23.45).)
NET MARGIN ( ) %
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