(Solved): E13-7 (Algo) Computing and Interpreting Selected Liquidity Ratios [LO 13-4, LO 13-5] Double West Su ...

E13-7 (Algo) Computing and Interpreting Selected Liquidity Ratios [LO 13-4, LO 13-5] Double West Suppliers (DWS) reported sales for the year of $\$280,000$, all on credit. The average gross profit percentage was 40 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 recelvables and the average days to sell inventory. Complete this question by entering your answers in the tabs below. Compute the follawing tumover ratios, (Round your answers to 1 decimal place) E13-7 (Algo) Computing and Interpreting Selected Liquidity Ratios [LO 13-4, LO 13-5] Double West Suppliers (DWS) reported sales for the year of $\$280,000$, all on credit. The average gross profit percentage was 40 percent on sales. Account balances followw: Required: 1. Compute the following turnover ratios. 2. By dividing 365 by your ratios from requirement 1 , calculate the average days to collect recelvables and the average days to sell inventory. Complete this question by entering your answers in the tabs below. Br dividing 365 by your ratios from requirement 1 , cakculate the average doys to collect recelvables and the average days to sell inventory. (Use 365 days in a year. Round turnower ratio calculation and final answers to 1 decimal place.)