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Rosco Co. sells clothing, accessories, and personal care products for men and women through its retail stores. Rosco reported the following data for two
Rosco Co. sells clothing, accessories, and personal care products for men and women through its retail stores. Rosco reported the following data for two recent years: Year 2 $4,769,090 Year 1 $4,578,560 Sales Accounts receivable 511,000 503,700 Assume that the accounts receivable were $430,700 at the beginning of Year 1. Classic Company manufactures and markets food products throughout the world. The following sales and receivable data were reported by Classic for two recent years: Year 2 $887,680 Year 1 $894,250 Sales Accounts receivable 113,150 120,450 Assume that accounts receivable were $135,050 at the beginning of Year 1. Rosco Co. Classic Company Accounts receivable turnover ratios Year 2 Year 1 9.4 9.8 7.6 7.0 a. Compute the average accounts receivable turnover ratio for Classic Company and Rosco Co. for Year 2 and Year 1. Round final answers to two decimal places. Rosco Co.: Classic Company: Previous Nex
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