double west suppliers (dws) reported sales for the year of $350,000, all on credit. the average gross profit percentage was 30 percent on sales. account balances follow: beginning ending accounts receivable (net) $ 50,000 $ 61,000 inventory 66,000 45,000 required: compute the following turnover ratios. by dividing 365 by your ratios from requirement 1, calculate the average days to collect receivables and the average days to sell inventory.
