1. ABC Company has a gross profit margin of 33.7%, Net Sales of $40,000,000, and inventory of $13,000,000. What is its Days’ Sales in Inventory?
2. If DEF Manufacturing has an accounts receivable turnover of 5.0 times and Net Sales of $8,000,000, what would its accounts receivable be?
3. If GHI Corporation has accounts receivable of $300,000 and net sales of $2,000,000, what is accounts receivable turnover in days?
4. JKL Inc. has Net Sales of $6,000,000 and a gross profit margin of 67.3%. What is the firm’s cost of goods sold?
5. MNO Ltd. Has an inventory turnover ratio of 6.0 times. What amount is the company’s days’ sales in inventory?