Homework Answers
Receivables turnover = Sales/Accounts receivables
= 2,315,016/381065
= 6.075 times
Days sales in receivables = 365/receivables turnover
= 365/6.075
= 60.08 days
It took 60.08 days on average for customers to pay
d.Inventory turnover = Cost of goods sold/Inventory
= 1843127/821986
= 2.242 times
e.Days sales = 365/2.242
= 162.80 days
162.80 days to sell
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