Question - For its most recent year a company had Sales (all on credit) of $830,000 and Cost of Goods Sold of $525 000. At the end of the year its Accounts Receivable were $86,000 and its Inventory was $110,000. Accounts Payable was $5,000 and Net Income was $42,000.
1. Calculate the Accounts Receivable Turn Days.
2. Calculate the Inventory Turn days.