Double West Suppliers (DWS) reported sales for the year of $290,000, all on credit. The average gross profit percentage was 30 percent on sales. Account balances follow: Beginning Ending Accounts...

Double West Suppliers (DWS) reported sales for the year of $290,000, all on credit. The average gross profit percentage was 30 percent on sales. Account balances follow:

Required:

1. Compute the following turnover ratios.


2. By dividing 365 by your ratios from requirement 1, calculate the average days to collect receivables and the average days to sell inventory.