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Below are amounts (in millions) from three companies' annual reports Beginning Accounts Ending Accounts Receivable Receivable Net Sales $2,672 6,244 WalCo TarMart CostGet $1,725 5,716
Below are amounts (in millions) from three companies' annual reports Beginning Accounts Ending Accounts Receivable Receivable Net Sales $2,672 6,244 WalCo TarMart CostGet $1,725 5,716 $313,427 58,878 59,963 539 575 Required 1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. (Do not round intermediate calculations Enter your answers in millions. Round your "Average accounts receivable" and "Receivables turnover ratio" answers to one decimal place.) Receivables Turnover Ratio Receivables turnover ratio WalCo TarMart CostGet imes imes imes Average Collection Period Average collection period WalCo TarMart CostGet days days days 2.Which company appears most efficient in collecting cash from sales? WalCo TarMart CostGet
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