For its most recent year a company had Sales (all on credit) of $830,000 and Cost of Goods Sold of $525,000. At the beginning of the year its Accounts Receivable were $80,000 and its Inventory was $100,000. At the end of the year its Accounts Receivable were $86,000 and its Inventory was $110,000. Calculate (i) the inventory turnover ratio for the year (ii) accounts receivable turnover ratio for the year (iii) the average days of sales were in Accounts Receivable during the year (iv) average days of sales  in Inventory during the year.

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A: Merchandise inventory turnover ratio is calculated by dividing the cost of goods sold by the average…

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A: The ratio analysis helps to analyse the financial statements of the business.

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A: Inventory days are the days take to convert inventory into sales.

Q: Winslow Department S

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A:

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A:

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