The following information was available for the year ended December 31, 2016: Net sales $784,750…

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The following information was available for the year ended December 31, 2016: Net sales $784,750 cost of goods sold 594,950 38,300 Average accounts receivable for the year Accou gceivable al year-end 31,200 158,000 Average inventory fo yea Inventory at year end 157,300 Required: a. Calculate the inventory turnover for 2016. Round your answer to 2 decimal places.) nventory turnover times b. Calculate the number of days sales in inventory for 2016, using year-end inventories. (Use 365 days a year. Round your answer to 1 decimal place. umber of days sales in Inventory days c. Calculate the accounts receivable turncver for 2016. (Round your answer to 1 decimal place) aunts receivable turnov
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The following information was available for the year ended December 31, 2015: Calculate the inventory turnover for 2016. {Round your answer to 2 decimal places.) Calculate the number of days’ sales in inventor/for 2016. using year-end inventories. (Use 365 days a year. Round your answer to 1 decimal place.) Calculate the accounts receivable turnover for 2016. (Round your answer to 1 decimal place.)

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