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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 $292,000 233,600 14,600 16,000 73,000 78,400 Required: a. Calculate the inventory turnover for 2019. (Round your answer to 1 decimal place.) 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. d. Calculate the number of days' sales in accounts receivable for 2019, using year-end accounts receivable. (Use 365 days a year.) times a. Inventory turnover b. Number of days' sales in Inventory Accounts receivable turnover days C. times d. Number of days' sales in accounts receivable days
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