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The following information was taken from the December 31, 2023, annual report of WestCon Developments. ($ millions) 2023 2022 Net sales $ 7,340 $ 5,455
The following information was taken from the December 31, 2023, annual report of WestCon Developments.
($ millions) | ||||
2023 | 2022 | |||
Net sales | $ | 7,340 | $ | 5,455 |
Accounts receivable | 604 | 492 | ||
Industry Average | |
Accounts receivable turnover | 16.5 |
Days sales uncollected | 21.0 |
Required: 1. Calculate accounts receivable turnover and days sales uncollected for the year 2023. (Assume 365 days in a year. Round your answers to 2 decimal places.)
2. Compare your calculations in (1) to the industry average and select whether the performance of WestCon's is Favourable or Unfavourable.
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