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Solomon Company reports the following in its most recent year of operations: Sales, $1,040,400 (all on account) Cost of goods sold, $601,400 Gross profit, $439,000

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Solomon Company reports the following in its most recent year of operations: Sales, $1,040,400 (all on account) Cost of goods sold, $601,400 Gross profit, $439,000 Accounts receivable, beginning of year, $92,000 Accounts receivable, end of year, $112,000 Merchandise inventory, beginning of year, $57,000 Merchandise inventory, end of year, $67,000. Based on these balances, compute: a. The accounts receivable turnover. b. The inventory turnover. Complete this question entering your answers in the tabs below. Required a Required b The accounts receivable turnover. Accounts Receivable Turnover Choose Denominator Choose Numerator Accounts Receivable Turnover Required b > Solomon Company reports the following in its most recent year of operations: Sales, $1,040,400 (all on account) Cost of goods sold, $601,400 Gross profit, $439,000 Accounts receivable, beginning of year. $92,000 Accounts receivable, end of year, $112,000 Merchandise inventory, beginning of year, $57,000 Merchandise inventory, end of year, $67,000. Based on these balances, compute: a. The accounts receivable turnover. b. The inventory turnover. Complete this question entering your answers in the tabs below. Required a Required b The inventory turnover. Inventory Turnover Choose Denominator Choose Numerator Inventory Turnover

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