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Below are amounts ( in millions ) from three companies ' annual reports. Beginning Accounts ReceivableEnding Accounts ReceivableNet SalesWalCo$ 1 , 8 1 5 $
Below are amounts in millions from threecompanies annual reports.
Beginning Accounts ReceivableEnding Accounts ReceivableNet SalesWalCo$$$TarMartCostGet
Required:
Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet.
Which company appears most efficient in collecting cash from sales?
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