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Below are amounts (in millions) from three companies' annual reports Walco TarMart CostGet Beginning Accounts Receivable $1,765 5,916 579 Ending Accounts Receivable $2,712 6,444 615
Below are amounts (in millions) from three companies' annual reports Walco TarMart CostGet Beginning Accounts Receivable $1,765 5,916 579 Ending Accounts Receivable $2,712 6,444 615 Net Sales $317,427 62,878 63,963 Required: 1. Calculate the receivables tumover ratio and the average collection period for Walco. Tar Mart 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 times TarMart times CostGel times Average Collection Period 11 Walco TarMart Average collection period days days days CostGet 2. Which company appears most efficient in collecting cash from sales? o Walco TarMart CostGet
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