Help Save & Exit
Check
Brief Exercise 4-15 (Algo) Receivables and inventory turnover ratios (L04-10)
Universal Calendar Company began the year with accounts receivable (net) and inventory balances of $160,000 and $80,000,
respectively. Year-end balances for these accounts were $180,000 and $60,000, respectively. Sales for the year of $550,000
generated a gross profit of $180,000.
Calculate the receivables and inventory turnover ratios for the year.
ces
Choose Numerator:
Receivables Turnover
Ratio
| Choose Denominator:
Receivables Turnover Ratio
= Receivables turnover ratio
11
0 times
Inventory Turnover Ratio
1 Choose Denominator:
Choose Numerator:
= Inventory Turnover Ratio
= Inventory turnover ratio
www
0 times
< Prev
2 of 8
Next >
search
ORI