The following selected information is taken from the financial statements of Riflen Company for its most recent year of operations:

Beginning balances:

Inventory ................. $200,000

Accounts receivable .............. 300,000

Ending balances:

Inventory ................. $250,000

Accounts receivable .............. 400,000

Cash ..................... 100,000

Marketable securities (short term) ........ 200,000

Prepaid expenses ................ 50,000

Accounts payable ................. 175,000

Taxes payable ................... 85,000

Wages payable .................. 90,000

Short-term loans payable .............. 50,000

During the year, Riflen Company had net sales of $2.45 million. The cost of goods sold was $1.3 million.

Required:

1. Compute the current ratio.

2. Compute the quick or acid-test ratio.

3. Compute the accounts receivable turnover ratio.

4. Compute the accounts receivable turnover in days.

5. Compute the inventory turnover ratio.

6. Compute the inventory turnover ratio in days.