Based on the financial data given by Midwest Outdoor Equipment Corporation, the following are true:
- Receivable turnover ratio - 5.45.
- Inventory turnover ratio - 4.38.
- Asset turnover ratio - 2.31.
<h3>What is the Receivable turnover ratio? </h3>
This can be found as:
= Credit sales / Average Receivables
= 18,785,000 / 3,445,000
= 5.45
<h3>What is the inventory turnover ratio?</h3>
This is found as:
= Cost of goods sold / Average inventory
= 12,600,000 / 2,875,000
= 4.38
<h3>What is the asset turnover ratio?</h3>
= Total sales / Total assets
= 24,324,000 / 10,550,000
= 2.31
Find out more on the inventory turnover ratio at brainly.com/question/9459259.
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