The Following Financial Information Was Taken from a Firm's Accounting

Short Answer

The following financial information was taken from a firm's accounting records for 2019. Use this information to determine the items below.
$\begin{array}{lrr} & \text { Jan. } 1 & \text { Dec. 31 } \\\text { Accounts Receivable } & \$ 272,000 & \$ 293,000 \\\text { Merchandise Inventory } & 304,000 & 319,000 \\\text { Net Credit Sales } & & 2,300,000 \\\text { Cost of Goods Sold } & & 1,200,000\end{array}$
(1.) Inventory turnover
(2.) Accounts receivable turnover
(3.)Average collection period of accounts receivable