Use the Allstott 2017 income statement that follows an
Question and Solution
Use the Allstott 2017 income statement that follows and the balance sheet from exercise S11-6 to compute the following
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Use the Allstott 2017 income statement that follows and the balance sheet from exercise S11-6 to compute the following: a. Allstott's rate of inventory turnover and days inventory outstanding for 2017 b. Days' sales in average receivables (days sales outstanding) during 2017 (round dollar amounts to one decimal place) c. Accounts payable turnover and days' payables outstanding d. Length of cash conversion cycle in days. Do these measures look strong or weak? Give the reason for your answer.
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