Double West Suppliers (DWS) reported sales for the year of $250,000, all on credit. The average gross profit percentage was 30 percent on sales. Account balances follow: Accounts receivable (net) Inventory Beginning $ 41,000 56,000 Ending $51,000 36,000 Required: 1. Compute the Receivables Turnover Ratio and 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the Receivables Turnover Ratio and Inventory Turnover Ratio. (Round your answers to 1 decimal place.) Receivables Tumover Ratio Inventory Turnover Ratio Required 1 Required 2 > Double West Suppliers (DWS) reported sales for the year of $250,000, all on credit. The average gross profit percentage was 30 percent on sales. Account balances follow: Accounts receivable (net) Inventory Beginning $ 41,000 56,000 Ending $51.900 36,000 Required: 1. Compute the Receivables Turnover Ratio and 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 By dividing 365 by your ratios from requirement 1, calculate the average days to collect receivables and the average days to sell inventory. (Use 365 days in a year. Do not round intermediate calculations. Round turnover ratio calculation and final answers to 1 decimal place.) Average Days to Collect Average Days to Sell days days