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Below are amounts (in millions) from three companies' annual reports. Ending Beginning Accounts Receivable $1,765 5,916 579 Walco TarMart CostGet Accounts Receivable $ 2,712 6,
Below are amounts (in millions) from three companies' annual reports. Ending Beginning Accounts Receivable $1,765 5,916 579 Walco TarMart CostGet Accounts Receivable $ 2,712 6, 444 615 Net Sales $317,427 62,878 63,963 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.) Receivables Turnover Ratio Receivables turnover ratio Walco times TarMart times CostGet times Average Collection Period Walco Average collection period days days days TarMart CostGet 2. Which company appears most efficient in collecting cash from sales? WalCo O TarMart
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