Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet

Exercise 5-18A Calculate receivables ratios (LO5-8) Below are amounts (In millions) from three companies' annual reports Beginning Accounts Receivable $1,765 5,916 579 Ending Accounts Receivable $2,712 6,444 Walco TarMart CostGet Net Sales $317,427 62,878 63,963 615 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 Receivables turnover ratio times Walco TarMart CostGet times times Average Collection Period Average collection period days Walco TarMart CostGet days days 2. Which company appears most efficient in collecting cash from sales? Walco TarMart CostGet