1. Blue Air Inc., has net sales of $723,000 and accounts receivables of $165,000. What are the firm's accounts receivables turnover? 2. JP Vineyards has sales of $853,000, a gross profit margin of 0.326, and inventory of $171,000. What is the company's inventory turnover ratio?

1. Blue Air Inc., has net sales of $723,000 and accounts receivables of $165,000. What are the firm's accounts receivables turnover? 2. JP Vineyards has sales of $853,000, a gross profit margin of 0.326, and inventory of $171,000. What is the company's inventory turnover ratio?

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 56P: The following selected information is taken from the financial statements of Arnn Company for its...

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1. Blue Air Inc., has net sales of $723,000 and accounts receivables of $165,000. What are the firm's accounts receivables turnover?

2. JP Vineyards has sales of $853,000, a gross profit margin of 0.326, and inventory of $171,000. What is the company's inventory turnover ratio?

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