Double West Suppliers (DWS) reported sales for the year of $450,000, all on credit. The average gross profit percentage was 40 percent on sales. Account balances are as follows: Accounts receivable (net) Inventory Beginning $39,000 54,000 Ending $61,000 46,000 Required: 1. Compute the turnover ratios for accounts receivable and inventory. (Round your answers to 1 decimal place.) Receivables turnover times ratio Inventory turnover ratio times