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Category > Accounting Posted 20 Aug 2017 My Price 8.00

Polo Jeans Co

EX 8-26  Accounts receivable turnover and days’ sales in receivables                                       ObJ. 8 Polo Ralph Lauren Corporation designs, markets, and distributes a variety of apparel, home decor,  accessory,  and  fragrance  products.  The  company’s  products  include  such    brands

as Polo by Ralph Lauren, Ralph Lauren Purple Label, Ralph Lauren, Polo Jeans Co., and

Chaps. Polo Ralph Lauren reported the following (in thousands) for two recent years:

 

 

For the Period Ending year 2  year 1

Sales                                                                      $6,859,500                        $5,660,300

Accounts receivable                                         690,000                               592,700

 

 

Assume that accounts receivable (in millions) were $486,200 at the beginning of Year 1.

a.     Compute the accounts receivable turnover for Year 2 and Year 1. Round to one decimal place.

b.    Compute the days’ sales in receivables for Year 2 and Year 1. Use 365 days and round to one decimal place.

c.     What conclusions can be drawn from these analyses regarding Ralph Lauren’s efficiency in collecting receivables?

 

Answers

Maurice Tutor
(5)
Status NEW Posted 20 Aug 2017 06:08 PM My Price 8.00

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