The following financial data were taken from the 10-K of Weiss Corporation:
	(10% each for the 4 questions)
	Selected Accounts	FY 2011	FY 2010	FY 2009
	Current Assets	350,000	400,000	450,000
	Current Liabilities	340,000	300,000	390,000
	Net Revenue	1,400,000	1,500,000	1,450,000
	Cost of Goods Sold	1,120,000	1,020,000	1,180,000
	Inventory	250,000	200,000	280,000
	Accounts Receivable	105,000	110,000	120,000
a.	Please calculate the inventory turnover in times and days for FY 2011
	Formula for Times: Cost of Goods Sold / average Inventory
	Formula for Days: 365/Inventory Turnover in Times
	Forget about company and industry comparisons, please explan if the inventory turnover
	in days is good or bad?
b.	Assume Credit Sales is 20% of Net Revenue, please calculate the Accounts
	Receivable Turnover in times and days for FY 2010.
	Formula for Times: Credit Sales / average Accounts Receivable
	Formula for Days: 365/Accounts Receivable in Times
	Forget about company and industry comparisons, please explan if the Accounts Receivable
	Turnover in days is good or bad?
c.	Please calculate the Quick Ratio for FY 2011.
	Formula: (Current Assets - Inventory) / Current Liabilities
	Forget about company or industry comparisons, please explain why the quick ratio calculaton is good or bad.
d.	Please calculate the Current Ratio for FY 2011.
	Formula: Current Assets / Current Liabilities
	Forget about company or industry comparisons, please explain why the current ratio calculaton is good or bad