I.Using the resources of our course materials compute the following for two years:II. https://www.sec.gov/Archives/edgar/data/1495320/000149532018000007/vra-20180203x10k.htm(a) Accounts Receivable TurnoverThe formula: Net Credit Sales. If Net Credit Sales information is not available, use Sales for purposes of this assignment.Average Accounts Receivables Formula for computing Average Accounts Receivables: Beginning AR + Ending AR/2 Comment briefly interpreting your results. 10 points(b) Day’s sales in Accounts Receivable (AR) The formula: Sales / 365 = Sales Per day Divide Accounts Receivable ending balance by sales per day. The answer: day’s sales in AR. Comment briefly interpreting your results. 10 points( c ) Inventory Turnover Formula: Cost of Goods Sold/Average Inventory Formula for computing Average Inventory: Beginning Inventory + Ending Inventory/2 Comment briefly interpreting your results. 10 points(d) Day’s sales in Inventory for two years. For Inventory, Cost of Goods Sold / 365 = sales per day (at our cost). Divide Inventory ending balance by sales per day. This answer: day’s sales in Inventory Comment briefly interpreting your results. 10 points
Accounts Receivable Turnover
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