Question
Below are amounts (in millions) from three companies' annual reports. Beginning. Accounts Ending Accounts Receivable Receivable WalCo TarMart CostGet $1,815 6,166 629 $2,762 6,694
Below are amounts (in millions) from three companies' annual reports. Beginning. Accounts Ending Accounts Receivable Receivable WalCo TarMart CostGet $1,815 6,166 629 $2,762 6,694 Net Sales $322,427 67,878 665 68,963 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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