Accounts Receivable and Inventory Turnover Use the following information to respond to the questions below. Round all numbers to 1 place past the decimal (Example: 4.1, 90.7, 3.0) Current Prior Year Year Net Sales 580,000 539,000 Cost of Goods Sold 377,000 345,000 Accounts Receivable, beginning of year : 71,000 73,000 Accounts Receivable, end of year 61,400 71,000 Inventory, beginning of year 48,000 65,600 Inventory, end of year 87,800 48,000 IMPORTANT: When calculating Days use the Turnover that you calculated previously that was rounded to 1 place past the decimal. If you use more decimal places, it will likely be wrong. Current Prior Year Year Accounts Receivable Turnover AR Days (365/AR Turn) Inventory Turnover Inventory Days (365/Inv. Turn)

Accounts Receivable and Inventory Turnover Use the following information to respond to the questions below. Round all numbers to 1 place past the decimal (Example: 4.1, 90.7, 3.0) Current Prior Year Year Net Sales 580,000 539,000 Cost of Goods Sold 377,000 345,000 Accounts Receivable, beginning of year : 71,000 73,000 Accounts Receivable, end of year 61,400 71,000 Inventory, beginning of year 48,000 65,600 Inventory, end of year 87,800 48,000 IMPORTANT: When calculating Days use the Turnover that you calculated previously that was rounded to 1 place past the decimal. If you use more decimal places, it will likely be wrong. Current Prior Year Year Accounts Receivable Turnover AR Days (365/AR Turn) Inventory Turnover Inventory Days (365/Inv. Turn)

Name: Accounts Receivable and Inventory TurnoverUse the following informati
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Description: Accounts Receivable and Inventory TurnoverUse the following information to respond to the questions below.Round all numbers to 1 place past the decimal (Example: 4.1, 90.7, 3.0)CurrentPriorYearYearNet Sales580,000 539,000Cost of Goods Sold377,000 34

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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