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Below are amounts (in millions) from three companies' annual reports. WalCo TarMart CostGet Beginning Accounts Receivable $1,695 5,566 509 Ending Accounts Receivable Net Sales
Below are amounts (in millions) from three companies' annual reports. WalCo TarMart CostGet Beginning Accounts Receivable $1,695 5,566 509 Ending Accounts Receivable Net Sales $2,642 6,094 $310,427 55,878 545 56,963 Required: 1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and Co (Do not round intermediate calculations. Enter your answers in millions. Round your "Average accounts receivable" and "Receivables turnover ratio" answers to one decimal place.) Net sales WalCo $ 310,427 TarMart $ 55,878 CostGet $ 56,963 365 WalCo TarMart CostGet Receivables Turnover Ratio Average accounts receivable Receivables turnover ratio 0 times 0 times 0 times Average Collection Period Receivables turnover ratio = Average collection period 0 days 0 days 0 days
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