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Assume selected financial data for Walmart and Target, two close competitors in the retail industry, are as follows: Beginning Ending Accounts Accounts Net ($ in
Assume selected financial data for Walmart and Target, two close competitors in the retail industry, are as follows: Beginning Ending Accounts Accounts Net ($ in millions) Sales Receivable Receivable Walmart Target $ 461,854 78,366 $ 5,964 6,837 6,603 6,377 Required 1-a. Calculate the recelvables turnover ratio and average collection period for Walmart and Target. (Enter your answers in millions. Do not round your intermediate calculations and round your answers to 1 decimal place.) Receivables Turnover Ratio Receivables Turnover Ratio Walmart times Target times Average Collection Period Average Collection Period Walmart days days Target 1-b. Which company maintains a higher receivables turnover? Walmart Target 016 00 CS-45186
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