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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
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 $1,022,000 642,400 43,000 22,400 210,000 158,400 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. times b. Inventory turnover Number of days' sales in Inventory Accounts receivable turnover Number of days' sales in accounts receivable days times C. d. days
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