For its most recent year a company had Sales (all on credit) of $830,000 and Cost of Goods Sold of $525,000. At the beginning of the year its Accounts Receivable were $80,000 and its Inventory was $100,000. At the end of the year its Accounts Receivable were $86,000 and its Inventory was $110,000.

10.The inventory turnover ratio for the year was

4.8

5.0 $525, 000/$105,000=5

7.9

11. The accounts receivable turnover ratio for the year was

6.3

7.5

10.0 $830,000//$83,000=10

12. On average how many days of sales were in Accounts Receivable during the year?

27

49

49

13.On average how many days of sales were in Inventory during the year?