Question - The following selected company information was reported:
Account recievable begining of the year $170,000.00
Account receiveable end of the year $190,000.00
Merchandise Inventory beginning of the year $80,000.00
Merchandise Inventory ending of the year $60,000.00
Cost of goods sold $580,000.00
Credit Sales $1,000,000.00
Calculate the following company ratios:
a) Accounts receivable turnover.
b) Inventory turnover.
c) Days' sales uncollected.