Refer to CVs s financial statements in the Supplement to Chapter
Refer to CVs’s financial statements in the Supplement to Chapter 16 and to the following data for Walgreens (amounts in millions):


Compute the payables turnover and days’ payable for CVS and Walgreens in 2010 and 2011. (Round to one decimal place.) In 2009, CVS had accounts payable of $3,560 million, and in 2010, its merchandise inventory decreased by $352. Which company do you think made the most use of financing from creditors during the operating cycle? Did the trendchange?
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