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Below are amounts (in millions) from three companies' annual reports. Beginning Ending Accounts Accounts Receivable Receivable Net Sales $1,665 $2,612 $307,427 5,416 5,944 52,878 479
Below are amounts (in millions) from three companies' annual reports. Beginning Ending Accounts Accounts Receivable Receivable Net Sales $1,665 $2,612 $307,427 5,416 5,944 52,878 479 5155 3,963 WalCo TarMart CostGet 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.) Receivables Turnover Ratio Walco = Receivables turnover ratio times times Tar Mart CostGet times Average Collection Period - Average collection period Walco days days TarMart CostGet days TarMart CostGet days days 2.Which company appears most efficient in collecting cash from sales? Walco O TarMart CostGet
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