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Williams & Son last year reported sales of $10 million and an inventory turnover ratio of 2. The company is now adopting a new inventory system. If the new system is able to reduce the firm’s inventory level and increase the firm’s inventory turnover ratio to 5 while maintaining the same level of sales, how much cash will be freed up?,,Medwing Corporation has a DSO of 17 days. The company averages $3,500 in credit sales each day. What is the company’s average account receivable?,,What is the nominal and effective cost of trade credit under the credit terms of 3/15, net 30?,