Procter & Gamble is a multinational corporation that manufactures and markets many household products. Assume

sales for the company in a recent year were $$66,000($all amounts in millions$).$ The annual report did not disclose the

amount of credit sales, so we will assume that $80$ percent of sales were on credit. The average gross profit on sales

was $45$ percent. Additional account balances were:

Required:

Compute Procter & Gamble's receivables turnover ratio and its inventory turnover ratio. On average, how many days

does it take for the company to collect its accounts receivable and sell its inventory?

Complete this question by entering your answers in the tabs below.

Compute Procter & Gamble's receivables turnover ratio and its inventory turnover ratio.

Note: Round your intermediate calculations and final answers to $2$ decimal places.

SECOND PART $-$ REQUIRED $2$

How many days does it take for the company to collect its accounts receivable and sell its inventory? $($note use $365$ days in a year and round to two decimal places$)$

To collect accounts recieveable: $\_\_\_$ days $?$

To sell inventory: $\_\_\_$ days?