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Given the following information for Costco Wholesale Corporation for the year 2023: Item Amount ($) Sales 3,000,000 Net Income 450,000 Total Assets 6,000,000 Total Liabilities

Given the following information for Costco Wholesale Corporation for the year 2023:

Item

Amount ($)

Sales

3,000,000

Net Income

450,000

Total Assets

6,000,000

Total Liabilities

2,000,000

Shareholders' Equity

4,000,000

Cost of Goods Sold

1,800,000

Inventory

300,000

Accounts Receivable

150,000

Accounts Payable

100,000

Requirements:

  1. Calculate the Inventory Turnover Ratio.
  2. Determine the Receivables Collection Period.
  3. Compute the Accounts Payable Turnover.
  4. Analyze the company's liquidity position.
  5. Calculate the Asset Turnover Ratio.

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