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Double West Suppliers (DWS) reported sales for the year of ( $ 600,000 ), all on credit. The average gross profit percentage was 40 percent
Double West Suppliers (DWS) reported sales for the year of \\( \\$ 600,000 \\), all on credit. The average gross profit percentage was 40 percent on sales. Account balances are as follows: Required: 1. Compute the turnover ratios for accounts receivable and inventory. (Round your answers to 1 decimal place.) 2. 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 answers to 1 decimal place.)
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