Question

Jim Shorts Company makes clothing for schools. Sales in 20X1 were S4,580,000. Assets were as follows Cash Accounts receivable Inventory Net plant and equipment 5 188,000 834.000 485,000 Total assets 5 2,088,000 a. Compute the following: (Round your answers to 2 decimal places.) Turnover Ratios 1. Accounts receivable turnover 2. Inventory turnover 3. Fixed asset turnover 4. Total asset turnover times times times times b. In 20X2, sales increased to S5,500,000 and the assets for that year were as follows Cash Accounts receivable 5 188,000 925,000 1,031.000 581,000 5 2,725,000 Net plant and equipment Total assets Compute the following: (Round your answers to 2 decimal places.) Turnover Ratios 1. Accounts receivable turnover 2. Inventory turnover 3. Fixed asset turnover 4. Total asset turnover times times times times

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