Double West Suppliers (DWS) reported sales for the year of $390,000, all on credit. The average gross profit percentage was 30 percent on sales. Account balances follow:

	Beginning				Ending
Accounts receivable (net)		$	53,000			$	63,000
Inventory			68,000				48,000

Required:

1. Compute the following turnover ratios.
2. By dividing 365 by your ratios from requirement 1, calculate the average days to collect receivables and the average days to sell inventory.

Required 1 Required 2 Compute the following turnover ratios. (Round your answers to 1 decimal place.) Receivables Turnover Ratio Inventory Turnover Ratio 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