Procter & Gamble is a multinational corporation that manufactures and markets many products that you use every day. In 2017, assume that sales for the company were $88,503 (all amounts in millions) and that all sales were on credit. The average gross profit percentage was 51.3 percent. Account balances are as follows: Accounts receivable (net) Inventory Beginning $ 7,261 8,916 Ending $ 6, 129 6,019 Required: 1. Compute the turnover ratios for accounts receivable and inventory. (Round your answers to 1 decimal place.) Receivables turnover ratio Inventory turnover ratio times times 2. By dividing 365 by your ratios from part 1, calculate the average days to collect receivables and the average days to sell inventory. (Round your intermediate and final answers to 1 decimal place.) Days to collect Days to sell