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Problem 5-9A Calculate and analyze ratios (LO5-8) Assume selected financial data for Walmart and Target, two close competitors in the retail industry, are as
Problem 5-9A Calculate and analyze ratios (LO5-8) Assume selected financial data for Walmart and Target, two close competitors in the retail industry, are as follows: Ending Accounts ($ in millions) Walmart Target Net Sales $447,854 70,666 Beginning Accounts Receivable Receivable $5,264 6,253 $6,137 6,027 Required: 1-a. Calculate the receivables turnover ratio and average collection period for Walmart and Target. (Enter your answers in millions. Do not round your intermediate calculations and round your answers to 1 decimal place.) Receivables Turnover Ratio Walmart Target Walmart Target Average Collection Period = Receivables Turnover Ratio times times Average Collection Period days days
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