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(solution) Below are amounts (in millions) from three companies' annual


Below are amounts (in millions) from three companies' annual reports.    
 

  Beginning
Accounts
Receivable
Ending
Accounts
Receivable
Net Sales
  WalCo $1,655         $2,602         $306,427     
  TarMart 5,366         5,894         51,878     
  CostGet 469         505         52,963     

1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. (Do not round intermediate calculations. Enter your answers in millions. Round your "Average accounts receivable" and "Receivables turnover ratio" answers to one decimal place.)

Receivables Turnover Ratio
÷ = Receivables turnover ratio
WalCo times
TarMart times
CostGet times
Average Collection Period
÷ = Average collection period
WalCo days
TarMart days
CostGet

days


  
2.Which company appears most efficient in collecting cash from sales?

 


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