Question: Namala Company reports the following in its most recent year

Namala Company reports the following in its most recent year of operations:
■ Sales, $1,000,000 (all on account)
■ Cost of goods sold, $570,000
■ Gross profit, $430,000
■ Accounts receivable, beginning of year, $90,000
■ Accounts receivable, end of year, $110,000
■ Merchandise inventory, beginning of year, $55,000
■ Merchandise inventory, end of year, $65,000.
Based on these balances, compute:
a. The accounts receivable turnover
b. The inventory turnover


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  • CreatedAugust 08, 2014
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