The Following Data Were Available for Holiday Company

Question 114
Essay

The following data were available for Holiday Company: Sales revenue,$225,000 (including $75,000 cash sales) Cost of goods sold,$175,000 Average balance in inventory,$20,000 Average balance in accounts receivable,$20,000 Assume 365 days in the year Calculate each of the following ratios.Round your answers to two decimal places. A.Inventory turnover ratio B.Average days to sell inventory C.Receivable turnover ratio D.Average days to collect receivables