Route Canal Shipping Company has the following schedule for aging of accounts receivable:

Age of Receivables April 30, 20X1
(1)	(2)	(3)		(4)
Month of Sales	Age of Account	Amounts		Percent of Amount Due
April	030	$	212,220	_______
March	3160		94,320	_______
February	6190		141,480	_______
January	91120		23,580	_______
Total receivables		$	471,600	100%

a. Calculate the percentage of amount due for each month.

b. If the firm had $1,572,000 in credit sales over the four-month period, compute the average collection period. Average daily credit sales should be based on a 120-day period.

Part two:

Fisk Corporation is trying to improve its inventory control system and has installed an online computer at its retail stores. Fisk anticipates sales of 60,500 units per year, an ordering cost of $4 per order, and carrying costs of $1.60 per unit. a. What is the economic ordering quantity?

b. How many orders will be placed during the year?

c. What will the average inventory be?

d. What is the total cost of ordering and carrying inventory?