To calculate the accounts receivable turnover ratio, ______ is divided by average accounts receivable. (a) Net sales                            (c) Total sales (b) Cost of goods sold            (d)...

(a) Net sales                            (c) Total sales

(b) Cost of goods sold            (d) Net credit sales

5. Inventory turnover is calculated by dividing cost of goods sold by

(a) average accounts receivable.

(b) average owner’s equity.

(c) average inventory.

(d) accounts receivable turnover.