Question: A recent annual report for FedEx contained the following data: Required: 1. Determine the receivables turnover ratio and average days sales in receivables for the

A recent annual report for FedEx contained the following data:

Required:
1. Determine the receivables turnover ratio and average days sales in receivables for the current year.
2. Explain the meaning of eachnumber.

Accounts receivable Less: Allowance for doubtful accounts Net accounts receivable Net sales (assume all on credit) dollars in thousands) Current Year Previous Year 4,763,000 $4,329,000 $4,581,000 $4,163.000 182,000 166,000 $39,304,000

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