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Below are amounts (in millions) from three companies' annual reports. Beginning Accounts Receivable $1,705 5,616 519 Ending Accounts Receivable $2,652 6,144 555 Walco TarMart CostGet
Below are amounts (in millions) from three companies' annual reports. Beginning Accounts Receivable $1,705 5,616 519 Ending Accounts Receivable $2,652 6,144 555 Walco TarMart CostGet Net Sales $311,427 56,878 57,963 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 ratlo" answers to one decimal place.) Receivables Turnover Ratio Walco Receivables turnover ratio times times times TarMart CostGet Average Collection Period Walco TarMart CostGet Average collection period days days days 2. Which company appears most efficient in collecting cash from sales? Walco TarMart O CostGet
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