Question: Sales for the year for RK Ltd were 1 500 000

Sales for the year for RK Ltd. were $ 1,500,000, of which one-half was on credit? The average gross margin rate was 40 percent on sales. Account balances follow:
Required:
Compute and comment on the turnover ratios for the trade receivables and inventory, the average age of receivables, and the average days’ supply of inventory.

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  • CreatedAugust 04, 2015
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