The Following Selected Company Information Was Reported Calculate the Following Company Ratios:
(A)Accounts Receivable Turnover
(B)Inventory Turnover

question 24

Essay

The following selected company information was reported:
$$\begin{array} { | l | r | } \hline \text { Accounts receivable, beginning-year } & \$ 170,000 \\\hline \text { Accounts receivable, year-end } & 190,000 \\\hline \text { Merchandise inventory, beginning-year } & 80,000 \\\hline \text { Merchandise inventory, year-end } & 60,000 \\\hline \text { Cost of goods sold } & 580,000 \\\hline \text { Credit sales } & 1,000,000 \\\hline\end{array}$$
Calculate the following company ratios:
(a)Accounts receivable turnover
(b)Inventory turnover
(c)Days' sales uncollected

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