ABC Ltd wants to assess its efficiency using efficiency ratios. Calculate the following efficiency ratios based on the given information:

• Inventory Turnover Ratio
• Accounts Receivable Turnover Ratio
• Accounts Payable Turnover Ratio

Given the following information:

• Cost of Goods Sold: $300,000
• Average Inventory: $50,000
• Net Credit Sales: $400,000
• Average Accounts Receivable: $60,000
• Purchases: $200,000
• Average Accounts Payable: $40,000