Question
Bell Company had the following current assets at year-end: Cash $52,200 Short-term investments 88,920 Accounts receivable (net) 306,000 Inventory 360,000 Prepaid expenses 20,880 Current assets
Bell Company had the following current assets at year-end:
Cash | $52,200 |
Short-term investments | 88,920 |
Accounts receivable (net) | 306,000 |
Inventory | 360,000 |
Prepaid expenses | 20,880 |
Current assets | $828,000 |
The company had net sales for the year of $1,575,000 and cost of goods sold of $962,500. At the beginning of the year, Bells accounts receivable (net) were $256,000 and its Inventory was $312,000. a. What is the companys accounts receivable turnover for the year? (Round to two decimal places.)
b. What is the companys average collection period for the year? (Round to one decimal place.)
c. What is the companys inventory turnover for the year? (Round to two decimal places.)
d. What is the companys days sales in inventory for the year? (Round to one decimal place.)
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