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Category > Business & Finance Posted 20 May 2017 My Price 8.00

Computing the Accounts Receivabl

Computing the Accounts Receivable and Inventory Turnover Ratios

Procter & Gamble is a multinational corporation that manufactures and markets many products that you use every day. In 2008, sales for the company were $83,503 (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 profi t percentage was 51.3 percent. Account balances follow:

 

Beginning

Ending

Accounts receivable (net)

$6,761

$6,629

Inventory

8,416

6,819

Required:

1. Rounded to one decimal place, compute the turnover ratios for accounts receivable and inventory.

2. By dividing 365 by your ratios from requirement 1, calculate the average days to collect receivables and the average days to sell inventory.

3. Interpret what these ratios and measures mean for P&G.

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Status NEW Posted 20 May 2017 09:05 AM My Price 8.00

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