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 $76,490 (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 43 percent on sales. Account balances follow:

	Beginning			Ending
Accounts receivable (net)	$	6,631		$	5,740
Inventory		6,832			6,306

Required:

1.

Compute the turnover for the accounts receivable and inventory. (Round your answers to 1 decimal place.)

	Turnover
Accounts receivable
Inventory

2.

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

	Days
Accounts receivable
Inventory