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Jim Shorts Company makes clothing for schools. Sales in 2013 were $4,820,000. Assets were as follows: Cash. $ 163,000 Accounts receivable. 889,000 Inventory.. 411,000 Net
Jim Shorts Company makes clothing for schools. Sales in 2013 were $4,820,000. Assets were as follows:
Cash. | $ 163,000 |
Accounts receivable. | 889,000 |
Inventory.. | 411,000 |
Net plant and equipment.. | 520,000 |
Total assets | $1,983,000 |
a. Compute the following:
1. Accounts receivable turnover
2. Inventory turnover
3. Fixed asset turnover
4. Total asset turnover
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