Computing and Evaluating Receivables, Inventory, and PPE Turnovers 3M Company reports the following financial statement amounts in
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Computing and Evaluating Receivables, Inventory, and PPE Turnovers
3M Company reports the following financial statement amounts in its 10-K report:
($ millions) | Sales | Cost of Sales | Receivables | Inventories | PPE, net |
---|---|---|---|---|---|
2014 | $31,111 | $17,193 | $3,867 | $3,416 | $7,666 |
2013 | 28,162 | 15,331 | 3,615 | 3,155 | 7,279 |
2012 | 23,623 | 12,609 | 3,250 | 2,639 | 7,000 |
Required Compute the receivables, inventory, and PPE turnover ratios for both 2014 and 2013. (Receivables turnover and inventory turnover are discussed in Chapters 6 and 7, respectively.) Round to two decimal places. Receivable turnover rate:
2014 | Answer |
2013 | Answer |
Inventory turnover rate:
2014 | Answer |
2013 | Answer |
PPE turnover rate:
2014 | Answer |
2013 | Answer |
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Related Book For
Financial Accounting
ISBN: 9781618533111
6th Edition
Authors: Michelle L. Hanlon, Robert P. Magee, Glenn M. Pfeiffer, Thomas R. Dyckman
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