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 $79,137 (all amounts in millions of U.S. dollars). Assume that 30 percent of sales were on credit. The average gross margin rate was 45 percent on sales. Account balances follow: Accounts receivable (net) Inventory Beginning $6,821 7,441 Ending $7,968 6,535 Required: 1. Compute the turnover ratios for the accounts receivable and inventory. (Round the final answers to 2 decimal places.) Accounts receivable turnover Inventory turnover times times 2. Compute the average days to collect receivables, and the average days to sell inventory. (Use 365 days a year. Round the intermediate calculations to 2 decimal places and the final answers to the nearest whole number.) Average days to collect receivables Average days to sell inventory days days