For its most recent year a company had Sales (all on credit) of $830,000 and Cost...

   

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For its most recent year a company had Sales (all on credit) of $830,000 and Cost of Goods Sold of $525,000. At $100,000. At the end of the beginning of the year its Accounts Receivable were $80,000 and its Inventory was the year its Accounts Receivable were $86,000 and its Inventory was $110,000. Required: Using the above information, estimate the followings: Average accounts receivable for the year. Average inventory for the year. Accounts receivable turnover ratio for the year. i) ii) iii) iv) v) Inventory turnover ratio for the year. Average days of sales for Accounts Receivable during the year. For its most recent year a company had Sales (all on credit) of $830,000 and Cost of Goods Sold of $525,000. At $100,000. At the end of the beginning of the year its Accounts Receivable were $80,000 and its Inventory was the year its Accounts Receivable were $86,000 and its Inventory was $110,000. Required: Using the above information, estimate the followings: Average accounts receivable for the year. Average inventory for the year. Accounts receivable turnover ratio for the year. i) ii) iii) iv) v) Inventory turnover ratio for the year. Average days of sales for Accounts Receivable during the year.

Answer rating: 100% (QA)

Required i Average Accounts Receivable 83000 Required ii Average Inventory 1050... View the full answer