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Question - The following selected data were taken from the records of Delta Company:
Beginning
Ending
Accounts receivable - net
60,000
40,000
Inventory
55,000
65,000
Sales (All on credit)
600,000
Cost of goods sold
360,000
Required:
A. Compute the following ratios:
1. Accounts receivable turn over
2. Average collection period
3. Inventory turnover
4. Days sales in inventory
B. Delta's credit term is 2/10, n/30. The industry average inventory turnover is 8 times. Comment on Delta's efficiency in managing its accounts receivable and inventory.
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