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Below are amounts (in millions) from three companies' annual reports. Beginning Ending Accounts Accounts Receivable Receivable Net Sales WalCo TarMart $1,665 CostGet 5,416 479
Below are amounts (in millions) from three companies' annual reports. Beginning Ending Accounts Accounts Receivable Receivable Net Sales WalCo TarMart $1,665 CostGet 5,416 479 $2,612 5,944 $307,427 52,878 515 53,963 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.) WalCo TarMart CostGet WalCo TarMart CostGet Receivables Turnover Ratio Receivables turnover ratio times times times Average Collection Period Average collection period: days days days
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