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Diamond Systems manufactures and markets many products you use every day. In 2019, soles for the company were $86,000 (all omounts in millions). The annual
Diamond Systems manufactures and markets many products you use every day. In 2019, soles for the company were $86,000 (all omounts in millions). The annual report did not report the amount of credit sales, so we will assume that all sales were on credit. The overoge gross profit percentoge wos 49.8 percent. Account bolances for the yeor follow: Required: 1. Compute the turnover rotios for accounts receivoble and inventory. 2 By dividing 365 by your ratios from requirement 1 , calculate the overoge doys to collect receivables and the average days to sell inventory. Complete this question by entering your answers in the tabs below. Compute the turnover ratios for accounts receivable and inventory. (Do not round intermediate calculations. Round your final answers to 1 decimal place.) By dividing 365 by your ratios from requirement 1, calculate the average days to collect receivables and the average days to sell inventory. (Round your intermediate calculations and final answers to 1 decimal place.)
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