Procter & Gamble (P&G) manufactures and markets many products you use every day in 2016, sales for the company were $65.300 (all amounts in millions). The annual report did not report the amount of credit sales, so we will assume that all sales were on credit The average gross profit percentage was 49.6 percent Account balances for the year follow Accounts receivable (net) Inventory Beginning $4,400 4,700 Ending $4,600 5,000 Required: 1. Compute the following turnover ratios. 2. By dividing 365 by your ratios from requirement 1, calculate the average days to collect receivables and the average days to sell inventory Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the following turnover ratios. (Do not round intermediate calculations. Round your final answers to 1 decimal place.) Receivables Tumover Ratio Inventory Tumover Ratio AY