I need help with this question asap, can u please help me in solving this questi

Question

I need help with this question asap, can u please help me in solving this question.

JPJ Corp has sales of $1.17 million, accounts receivable of $52,000, total assets of $5.23 million (of which $2.98 million are fixed assets), inventory of $153,000, and cost of goods sold of $599,000. What is JPJ's accounts receivable days? Fixed asset turnover? Total asset turnover? Inventory turnover? urst What is JPJ's accounts receivable days? JPJ's accounts receivable days are days. (Round to two decimal places.) Do

Explanation / Answer

Accounts receivable days = (Accounts receivable / Sales) x 365 days = ($52,000 / $1,170,000) x 365 days = 16.22 days

Fixed asset turnover = Sales / Fixed assets = $1,170,000 / $2,980,000 = 0.39262 or 0.39

Total asset turnover = Sales / Total assets = $1,170,000 / $5,230,000 = 0.22371 or 0.22

Inventory turnover = Cost of goods sold / Inventory = $599,000 / $153,000 = 3.9150 or 3.92

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