Question: Questions for accounting 101. Hope you can explain it. Problem 8-11A (Part Level Submission) The following selected ratios are available for Marx Pets Inc. for

Questions for accounting 101. Hope you can explain it.

Questions for accounting 101. Hope you can explain it. Problem 8-11A (Part

Problem 8-11A (Part Level Submission) The following selected ratios are available for Marx Pets Inc. for the most recent three years: 2018 2017 2016 Current ratio 2.7 :1 2.5 :1 2.3 :1 Receivables turnover 8.9 times 8.2 times 7.5 times Inventory turnover 10.7 times 9.3 times 8.2 times v (a) Calculate the average collection period and days in inventory for each year. (Round answers to 0 decimal places, e.g. 5,275. Use 365 days for calculation.) 2018 2017 2016 Average collection period days days days Days in inventory days days days

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