CONNECT - BUS 530 . EXAM 1 GUIDE - LATEST 2014

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Assume a firm’s inventory level of $18,000 represents 24 days' sales. What is the inventory turnover ratio?(Use 365 days in a year. Do not round intermediate calculations. Round your answer to 2 decimal places.)

  Inventory turnover ratio

[removed] times per year  

Salad Daze maintains an inventory of produce worth $380. Its total bill for produce over the course of the year was $71,000. How old on average is the lettuce it serves its customers? (Use 365 days in a year. Do not round intermediate calculations. Round your answer to 2 decimal places.)

  Average days

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Torrid Romance Publishers has total receivables of $3,180, which represents 20 days’ sales. Total assets are $77,380. The firm’s operating profit margin is 6.2%. Find the firm’s asset turnover ratio and ROA. (Use 365 days in a year. Do not round intermediate calculations. Round your answers to 2 decimal places.)

  Asset turnover ratio

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  ROA

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