Use the income statement and the balance sheet to calculate the following:a. Colvin's rate of...
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Accounting
Use the income statement and the balance sheet to calculate the following:a Colvin's rate of inventory turnover and days' inventory outstanding for b Days sales in average receivables days sales outstanding during round dollar amounts to one decimal place Assume all sales are made on account.c Accounts payable turnover and days' payables outstanding for For this purpose, assume that the impact of inventories on cost of goods sold is immaterial, allowing you to use cost of goods sold rather than purchases in your computations.d Length of cash conversion cycle in days for Do these measures look strong or weak?
Give the reason for your answer.
AUse the income statement and the balance sheet to calculate Colvins rate of inventory turnover and days inventory outstanding for begin by selecting the formula and then enter the amounts to calculate inventory turnover. Enter currency amounts in millions as given in the question. Round the inventory turnover to two decimal places, XXX
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