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Seved The following information was available for the year ended December 31, 2019: Net sales Cost of goods sold Average accounts receivable for the year
Seved The following information was available for the year ended December 31, 2019: Net sales Cost of goods sold Average accounts receivable for the year Accounts receivable at year-end Average inventory for the year Inventory at year-end $766,500 591,300 37,850 31,500 154,000 157,150 Required: a. Calculate the inventory turnover for 2019. (Round your answer to 2 decimal places.) b. Calculate the number of days' sales in inventory for 2019, using year-end Inventories. (Use 365 days a year. Round your answer to 1 decimal place.) c. Calculate the accounts receivable turnover for 2019. (Round your answer to 1 decimal place.) d. Calculate the number of days' sales in accounts receivable for 2019, using year-end accounts receivable. (Use 365 days a year. Round your answer to 1 decimal place.) a. Inventory turnover 6. Number of days' sales in Inventory c. Accounts receivable turnover d. Number of days' sales in accounts receivable times days times days
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