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Procter & Gamble is a multinational corporation that manufactures and markets many products that are probably in your home. Last year, sales for the company

Procter & Gamble is a multinational corporation that manufactures and markets many products that are probably in your home. Last year, sales for the company were $76,476 (all amounts in millions). The annual report did not disclose the amount of credit sales, so we will assume that 90 percent of sales were on credit. The average gross profit rate was 52 percent on sales. Account balances follow:

Beginning Ending
Accounts receivable (net) $ 6,629 $ 5,725
Inventory 6,819 6,291

Required:

Compute the turnover for the accounts receivable and inventory. (Round your intermediate calculations and final answer to 1 decimal place.)

Turnover
Accounts receivable
Inventory

Compute the average age of receivables, and the average days' supply of inventory. (Use 365 days a year. Round your intermediate calculations and final answer to 1 decimal place.)

Days
Accounts receivable
Inventory

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