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Consider the following financial data from the past year of a firm. Type $ Gross Income 28,530,000 Total Sales 27,734,000 total Credit Sales 19,438,000
Consider the following financial data from the past year of a firm. Type $ Gross Income 28,530,000 Total Sales 27,734,000 total Credit Sales 19,438,000 Net Income 4,190,000 Cost of Goods Sold 13,700,000 Total Assets 10,962,000 Avg. Inventory 2,876,000 Avg. Receivables 3,342,000 A. Compute the receivable turnover ratio. B. Compute the inventory turnover ratio. C. Compute the asset turnover ratio.
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