Accounts Recelvable Turnover Rosco Co. selis clothing, accessories; and personal care products for mien and women through its fetall stores, Rosco reported the following dato for two recent years: Assume that the accounts recelvable were $481,800 at the beginning of Year 1 . Classic Company manufactures and markets food products throughout the world, The following sales and receivable data were reported by Classic for two recent years: Assume that occounts receivable were $357,700 at the beginning of Year 1 . a. Compute the average accounts recelvable turnover ratio for Classic Company and Rosco. Co. for Year 2 and Year 1 . Round final answers to two decimal places. Assume that accounts recelvable were $357,700 at the beginning of year 1 . a. Compute the average accounts receivable turnover ratio for Classic Company and Rosco Co. for Year 2 and Year 1 . Round final answers to two decimal places. b. Does Ciassic Company or Rosco Co, have the higher average accounts recelvable turnover ratio? 1 has the higher average accounts receivable turnover ratio. c. Explain why the average tumover ratios are different in (b). Rosco operates a specialty retall chain of stores that sells directly to individual consumers. Many of these consumers (retail customers) pay using MasterCard or Viso, which is recorded as a cash sales. In contrast, Classic Company manufactures foods that are sold to food Wholesolers, grocery store chains, and other food distributors that eventually sell Classic's products to individual consumers, Accordingly, because of the extended distribution chain, we would expoct Classic to have accounts recelvable than Rosco. In addition, we would expect Classic's business customers to take a period to pay their receivables, Thus, we would expect Classic's average accounts receivable turnover ratio to be