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Gardner Clothiers reported the following selected items at August 3 1 , 2 0 1 6 ( last year's - 2 0 1 5 -
Gardner Clothiers reported the following selected items at August last year'samounts also given as needed:
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Compute Gardneria acidtest ratio, b accounts receivable turnover ratio, and c days' sales in receivables for Evaluate each ratio value as strong or weak. Gardnersells on terms of net Round days' sales in receivables to a whole number.
a Compute Gardner's acidtest ratio. Round your final answer to two decimal places. Abbreviation used: Avg. Average; Invest. Investment; Liab. Liabilities; Merch. Merchandise; Receiv. Receivable; Rev. Revenue.
Acidtest ratio
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