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Double West Suppliers (DWS) reported sales for the year of $390,000, all on credit. The...

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Accounting

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Double West Suppliers (DWS) reported sales for the year of $390,000, all on credit. The average gross profit percentage was 40 percent on sales. Account balances follow: Required: 1. Compute the following turnover ratios. 2. By dividing 365 by your ratios from requirement 1 , calculate the average days to collect receivables and the average days to sell inventory. By dividing 365 by your ratios from requirement 1 , calculate the average days to collect receivables and the average days to sell inventory. (Use 365 days in a year. Round turnover ratio calculation and final answers to 1 decimal place.)

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