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Procter & Gamble is a multinational forporation that manufactures and markets many household products. Last year, sales for the company were $83,062 (all amounts in
Procter \& Gamble is a multinational forporation that manufactures and markets many household products. Last year, sales for the company were $83,062 (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 on soles was 49 percent. Additional account balances were: Required: Compute Procter \& Gamble's recelvables turnover ratio and its inventory turnover ratio. On average, how many days does it take for the company to collect its accounts recelvable and sell its inventory? Complete this question by entering your answers in the tabs below. Compute Procter 8 Gamble's recelvablen tumover ratio and its inventory tumover ratio. Note: Round your intermediate calculations and final answers to 2 decimal places. Compute Procter \& Gamble's recelvables turnover ratio and its inventory turnover ratio. On average, how many days does it take for the company to collect its accounts recelvable and sell its inventory? Complete this question by entering your answers in the tabs below. 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. Round your intermediate and final answers to 2 decimal places
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