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Calculating inventory turnover, #of days, accounts receivable turnover ni- Calculate activity measures The following information was available for the year ended December 31, 2019: cercise

Calculating inventory turnover, #of days, accounts receivable turnover

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ni- Calculate activity measures The following information was available for the year ended December 31, 2019: cercise .2 Net sales.. . $292,000 Cost of goods sold 233,600 Average accounts receivable for the year. . . . 14,600 Accounts receivable at year-end . . .. 16,000 Average inventory for the year. . . . . . 73,000 Inventory at year-end 78.400 Required: a. Calculate the inventory turnover for 2019. b. Calculate the number of days' sales in inventory for 2019, using year-end inventories. c. Calculate the accounts receivable turnover for 2019. d. Calculate the number of days' sales in accounts receivable for 2019, using year-end accounts receivable

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