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Excerpts from Candle Corporation's most recent balance sheet (in thousands of dollars) appear below: ...

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Accounting

Excerpts from Candle Corporation's most recent balance sheet (in thousands of dollars) appear below:

Year 2 Year 1
Current assets:
Cash $ 320 $ 180
Accounts receivable 320 330
Inventory 200 200
Prepaid expenses 66 76

Total current assets $ 906 $ 786

Current liabilities:
Accounts payable $ 250 $ 250
Accrued liabilities 160 96
Notes payable, short term 76 66

Total current liabilities $ 486 $ 412

Sales on account during the year totaled $1,500 thousand. Cost of goods sold was $920 thousand.

1. Compute the following average collection period for Year 2

2. Compute the following inventory turnover for Year 2

3. Compute the following average sale period for Year 2

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