Double West Suppliers (DWS) reported sales for the year of $270,000, all on credit. The average gross profit percentage was 35 percent on sales. Account balances follow: Accounts receivable (net) Inventory Beginning $42, eee 57,000 Ending $52,000 37,000 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 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the following turnover ratios. (Round your answers to 1 decimal place.) 5.7 Receivables Turnover Ratio Inventory Turnover Ratio Double West Suppliers (DWS) reported sales for the year of $270,000, all on credit. The average gross profit percentage was 35 percent on sales. Account balances follow Beginning Ending Accounts receivable (net) $ 42,000 $ 52,000 Inventory 57 , 37, 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 Complete this question by entering your answers in the tabs below. Required i 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 64.0 days days