Question: Walkers World Company gathered the <a rel=following information for 2014: Total sales revenue (65% on cr…” />

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Show transcribed image text Walkers World Company gathered the following information for 2014: Total sales revenue (65% on credit) $432,000 Cost of goods sold 231,000 Sales returns and allowances (on credit) 44,000 Accounts receivable at end of 2014 ($30,000 increase during 2014) 100,000 Allowance for doubtful accounts: Beginning of 20145,000 End of 2014 7,000 Merchandise inventory at end of 2014 ($10,000 decrease during 2014) 28,000 Assume 365 days in the year. Required: Calculate each of the following ratios. Round all dollar amounts to whole dollars and all other calculations to two decimal places. Receivable turnover ratio Average age of receivables Inventory turnover ratio Average number of days' supply in inventory

Walkers World Company gathered the following information for 2014: Total sales revenue (65% on credit) $432,000 Cost of goods sold 231,000 Sales returns and allowances (on credit) 44,000 Accounts receivable at end of 2014 ($30,000 increase during 2014) 100,000 Allowance for doubtful accounts: Beginning of 20145,000 End of 2014 7,000 Merchandise inventory at end of 2014 ($10,000 decrease during 2014) 28,000 Assume 365 days in the year. Required: Calculate each of the following ratios. Round all dollar amounts to whole dollars and all other calculations to two decimal places. Receivable turnover ratio Average age of receivables Inventory turnover ratio Average number of days' supply in inventory

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