Double West Suppliers (DWS) reported sales for the year of $390,000, all on credit. The average gross profit percentage was 40 percent on sales. Account balances follow:

	Beginning				Ending
Accounts receivable (net)		$	54,000			$	64,000
Inventory			69,000				49,000

Required:

1. Compute the following turnover ratios.---Receivable Turnover Ratio & Inventory Turnover Ratio
2. By dividing 365 by your ratios from requirement 1, calculate the average days to collect receivables and the average days to sell inventory.---- Average Days to collect & Average Days to sell