exercise 13.10 calculating the accounts receivable turnover and inventory turnover

Saved Sales, $1,000,000 (all on account) . Cost of goods sold, $490,000 . Gross profit, $510,000 . Accounts receivable, beginning of year, $110,000 Accounts receivable, end of year, $140,000 . Merchandise inventory, beginning of year, $55,000 . Merchandise inventory, end of year, $60,000. Based on these balances, compute: , a. The accounts receivable turnover b. The inventory turnover Complete this question entering your answers in the tabs below. Required a Required b The accounts receivable turnover Accounts Receivable Turnover Accounts Recervable Turnover Choose Denominator Choose Numerator . Sales, $1,000,000 (all on account) . Cost of goods sold, $490,000 . Gross profit, $510,000 . Accounts receivable, beginning of year, $110,000 . Accounts receivable, end of year, $140,000 . Merchandise inventory, beginning of year, $55,000 Merchandise inventory, end of year, $60,000 Based on these balances, compute: a. The accounts receivable turnover b. The inventory turnover Complete this question entering your answers in the tabs below. Required a Required b The inventory turnover Inventory Turnover Inventory Turnover Choose Denominator Choose Numerator Exercise 13.10 Calculating the accounts receivable turnover and the inventory turnover. LO 13 Solomon Company reports the following in its most recent year of operations Sales, $1,000,000 (all on account) . Cost of goods sold, $490,000 Gross profit, $510,000 Accounts receivable, beginning of year, $110,000 Accounts receivable, end of year, $140,000 Merchandise inventory, beginning of year $55,000 Merchandise inventory, end of year $60,000 Based on these balances, compute a. The accounts receivable turnover b. The inventory turnover Complete this question entering your answers in the tabs below. Required a Required b The inventory turnover inventory Turnover