Computing Activity Ratios Ralph Lauren Corporation $ millions Current Fiscal Year Prior Fiscal Year Income statement information: Sales $49,877 $51,402 Cost of goods sold 18,900 19,041 Balance sheet information: Accounts receivable, gross 3,855 4,530 Inventory 5,625 5,210 Accounts payable 755 1,050 Selected income statement and balance sheet information follows for Ralph Lauren Corporation for the current fiscal year and the prior fiscal year. Compute the following ratios for its current fiscal year. a. Accounts receivable turnover b. Average days to collect receivables c. Inventory turnover d. Average days in inventory e. Accounts payable turnover f. Average days payable outstanding g. Cash conversion cycle Note: Enter your answers for the numerator and denominator rounded to the nearest whole dollar, except when entering a "result" amount. When entering a "result" amount as a numerator or denominator, enter the amount as shown Ratio Numerator Denominator Result Accounts receivable turnover $ Average days to collect receivables Inventory turnover $ Average days in inventory 49,877 2,795 x + 18,900 + $ 5,418 x + $ 2,795 x 17.85 49,877 x = 0.06 5,418 = 3.49 18,900 x = 0.29 Accounts payable turnover $ 18,900 $ 903 20.93 Average days payable outstanding 903 x + 18,900 x = 0.05 Note: Enter the answer rounded to two digits after the decimal; for example, enter 1.42 for 1.424, or 1.43 for 1.425 Cash conversion cycle: 146 x