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Sales on account during the year totaled $1,270 thousand. Cost of goods sold was $870 thousand. Required: Compute the following for Year 2: a. Working
Sales on account during the year totaled $1,270 thousand. Cost of goods sold was $870 thousand. Required: Compute the following for Year 2: a. Working capitaL. (Enter your answer in thousands of dollars, i.e., 100,000 should be entered as 100.) b. Current ratio, (Round your answer to 2 decimal places.) c. Acid-test (quick) ratio. (Round your answer to 2 decimal places.) d. Accounts recelvable turnover. (Round your answer to 2 decimal places.) e. Average collection period. (Use 365 days in a year. Round your intermediate calculations to 2 decimals places and your final answer to 1 decimal place.) f. Inventory turnover. (Round your answer to 2 decimal places.) g. Average sale period. (Use 365 days in a year. Round your intermediate calculations to 2 decimals places and your final answer to 1 decimal place.)
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