Question: The Limited Inc sells women s and men s clothing through specia

The Limited Inc. sells women’s and men’s clothing through specialty retail stores, including Structure, The Limited, Express, Lane Bryant, and Lerner New York. The Limited sells women’s intimate apparel and personal care products through Victoria Secret and Bath & Body Works stores. For fiscal 2004 and 2003, The Limited reported the following (in millions):

Assume that accounts receivable (in millions) were $151 on February 1, 2003.
a. Compute the accounts receivable turnover for 2004 and 2003. Round to one decimal place.
b. Compute the day’s sales in receivables for 2004 and 2003. Round to one decimal place.
c. What conclusions can be drawn from these analyses regarding The Limited’s efficiency in collectingreceivables?

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  • CreatedMay 29, 2012
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