I just need help with C! 4. Award: 2.63 out of 3.50 points The following informa

Question

I just need help with C!

4. Award: 2.63 out of 3.50 points The following information was available for the year ended December 31, 2016 Net sales Cost of goods sold Average accounts receivable for the year Accounts receivable at year-end Average inventory for the year Inventory at year-end S784,750 594,950 38,300 31,200 158,000 157,300 Required a. Calculate the inventory turnover for 2016. (Round your answer to 2 decimal places.) 3.77 times b. Calculate the number of days' sales in inventory for 2016, using year-end inventories. (Use 365 days a year. Round your answer to 1 decimal place.) Number of days' sales in 96.5 days c. Calculate the accounts receivable turnover for 2016. (Round your answer to 1 decimal place.) Accounts receivable 25.2 x times d. Calculate the number of days' sales in accounts receivable for 2016, using year-end accounts receivable. (Use 365 days a year. Round your answer to 1 decimal place.) Number of days' sales in Accounts 14.5 days va

Explanation / Answer

Answer:- C)- Accounts receivable turnover ratio:-

                              = Net credit sales/Average accounts receivable

                              =$784750/$38300 =20.5 times

Explanation:- It is assumed all sales on account.

Related Questions

Navigate

• Browse (All)
• Browse I
• Subjects

---