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Asset Efficiency Ratios Sammy Inc.s financial statements for 2023 indicate the following account balances: Net sales $253,777 Cost of goods sold 184,680 Average accounts receivable
Asset Efficiency Ratios
Sammy Inc.s financial statements for 2023 indicate the following account balances:
Net sales | $253,777 |
Cost of goods sold | 184,680 |
Average accounts receivable | 22,265 |
Average inventory | 4,037 |
Average property, plant, and equipment | 69,451 |
Average total assets | 140,566 |
Required: Round your answers to two decimal places.
1. Using this information, calculate Sammys receivable turnover ratio. fill in the blank 1
2. Using this information, calculate Sammys asset turnover ratio and also convert the ratio into days. Assume 365 days in a year. Round your answer to nearest whole day.
Asset turnover ratio | fill in the blank 2 | |
Conversion into days | fill in the blank 3 | days |
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