Accounts Receivable and Inventory Turnover The following data (in millions) were adapted from recent financial statements of CVS Health Corporation (CVS). Year 2 Year 1 Sales $184,765 $177,526 Cost of goods sold 156,220 148,669 Operating income 6,631 5,320 Average accounts receivable 12,673 12,026 Average inventory 15,028 14,381 1. Compute the accounts receivable turnover for Years 1 and 2. Round to one decimal place. Accounts Receivable Turnover Year 2 Year 1 2. Compute the days' sales in receivables for Years 1 and 2. Assume there are 365 days in the year, and round to the nearest day. Number of Days' Sales in Receivables Year 2 days Year 1 days 3. Compute the inventory turnover for Years 1 and 2. Round to one decimal place. Inventory Turnover Year 2 Year 1 4. Compute the days' sales in inventory for Years 1 and 2. Assume there are 365 days in the year, and round to the nearest day. Number of Days' Sales in Inventory Year 2 days Year 1 days 5. Compute the return on sales for Years 1 and 2. Round to one decimal place. Return on Sales Year 2 % Year 1 % 6. All of the following are true regarding the accounts receivable and inventory analyses for CVS except: a. The management of receivables and inventories remained approximately the same in Years 1 and 2. b. The days' sales in inventory has decreased from year 1 to year 2, which is an unfavorable change. c. The days' sales in receivables remained constant between Year 1 and Year 2. d. Inventory turnover in Year 2 has increased slightly. Because the change was slight, the days' sales in inventory remained constant between Years 1 and 2. Choose the correct