Question

Refer to the information in Exercise 1–3 about Mixon Company. The company’s income statements for the years ended December 31, 2006 and 2005 show the following:



Required:
For the yearsendedDecember31, 2006 and2005, assume allsalesare oncredit andthencompute the following:
(a) Collection period,
(b) Accounts receivable turnover,
(c) Inventory turnover, and
(d) Days’ sales in inventory. Comment on the changes in the ratios from 2005 to2006


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  • CreatedJanuary 22, 2015
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