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Below are amounts in millions) from three companies' annual reports. Beginning Accounts Receivable $1,685 5.516 499 Ending Accounts Receivable $2,632 6,844 535 Walco TarMart CostGet
Below are amounts in millions) from three companies' annual reports. Beginning Accounts Receivable $1,685 5.516 499 Ending Accounts Receivable $2,632 6,844 535 Walco TarMart CostGet Net Sales $389,427 54,878 55.963 Required: 1. Calculate the receivables turnover ratio and the average collection period for Walco. TarMart and CostGet. (Do not round Intermedlate calculations. Enter your answers in millions. Round your "Average accounts recelvable" and "Recelvables turnover ratlo" answers to one decimal place.) Receivables Turnover Ratio = Receivables turnover ratio Walco times TarMart times CostGet times Average Collection Period Walco Average collection period days days days TarMart CostGet 2. Which company appears most efficient in collecting cash from sales? Walco TarMart CostGet
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