5. The average inventory of Wallpaper Outlet is $21,700.Their annual sales for last were $106,210. Pres-ently, the accounts receivable are $8,425. Find (A) lastyear's inventory turnover to the nearest tenth and(B) the present average collection turnover to thenearest whole day.year6. The average inventory of Y-mart is $1,350,000. Thetotal annual sales for the last two years were $14,500,000and $12,200,000 for the previous year. Find the inven-tory turnover to the nearest tenth for both years.7. Byers Book Mart has an inventory turnover of 5.8.Their average inventory is $31,250. Find their annualsales.

5. The average inventory of Wallpaper Outlet is $21,700. Their annual sales for last year were $106,210. Pres- ently, the accounts receivable are $8,425. Find (A) last year's inventory turnover to the nearest tenth and (B) the present average collection turnover to the nearest whole day.

5. The average inventory of Wallpaper Outlet is $21,700. Their annual sales for last year were $106,210. Pres- ently, the accounts receivable are $8,425. Find (A) last year's inventory turnover to the nearest tenth and (B) the present average collection turnover to the nearest whole day.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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