3 Sales for the year for Victor Company were $1,200,000, 70 percent of which were...
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3 Sales for the year for Victor Company were $1,200,000, 70 percent of which were on credit. The average gross profit on sales was 45 percent Additional account balances were: Gints Accounts receivable (net) Inventory Ending $ 55,000 70,000 Beginning $ 69,00 34,00 eBook Required: 1. Compute the turnover for the accounts receivable and inventory (Round your intermediate calculations and final answers to 2 decimal places.) Print Turnover References Accounts receivable Inventory 2. Compute the average days to collect receivables, and the average days to sell inventory (Use 365 days in a year, Round your intermediate calculations and final answers to 2 decimal places) Days To collect accounts receivable To sell inventory +
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