Refer to Remington s financial statements in Exercise 12 65 and the
Refer to Remington’s financial statements in Exercise 12-65 and the information below.
Statement Item January 1, 2010 (In Thousands)
Accounts receivable ............ $ 752,945
Inventories .............. 698,604
Total assets .............. 3,485,233

Required:
1. Compute the three asset efficiency ratios (rounded to two decimal places) for 2010 and 2011.
2. Indicate the length of Remington’s operating cycle in days (rounded to two decimal places) for the years ended December 31, 2011, and December 31, 2010.
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