Refer to CVss financial statements in the Supplement to Chapter 16 and to the following data for

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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2011 2010 2009 Cost of goods sold Accounts payable Increase (decrease) in merchandise inventory $51,692 4,810 (592) S48,444 $45,722 4,308 533 4,585 (307)