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Beardom Gym Center Cash                                          P150,000 Trading Investments                        70,000 Receivables: Jan. 1                                  158,000 Dec. 31                               225,000 Merchandise Inventory                         Jan. 1                                  250,000 Dec. 31                                185,000 Current Liabilities                           230,000 Cost of Goods Sold                       2,750,000 Credit Sales                                4,800,000   Calculate the following: 1. Inventory turnover 2. Receivable turnover 3. Average age of receivables   Question; Is Beardom doing a good job in managing inventory and receivables? Explain.

Beardom Gym Center Cash                                          P150,000 Trading Investments                        70,000 Receivables: Jan. 1                                  158,000 Dec. 31                               225,000 Merchandise Inventory                         Jan. 1                                  250,000 Dec. 31                                185,000 Current Liabilities                           230,000 Cost of Goods Sold                       2,750,000 Credit Sales                                4,800,000   Calculate the following: 1. Inventory turnover 2. Receivable turnover 3. Average age of receivables   Question; Is Beardom doing a good job in managing inventory and receivables? Explain.

FINANCIAL ACCOUNTING
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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Beardom Gym Center

Cash                                          P150,000

Trading Investments                        70,000

Receivables:

Jan. 1                                  158,000

Dec. 31                               225,000

Merchandise Inventory                        

Jan. 1                                  250,000

Dec. 31                                185,000

Current Liabilities                           230,000

Cost of Goods Sold                       2,750,000

Credit Sales                                4,800,000

 

Calculate the following:

1. Inventory turnover

2. Receivable turnover

3. Average age of receivables

 

Question;

Is Beardom doing a good job in managing inventory and receivables? Explain.

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