Question: Assume selected financial data for Walmart and Target, two close competitors in the retail industry, are as follows: ($ in millions) Walmart Target Net

Assume selected financial data for Walmart and Target, two close competitors in the retail industry, are as follows: ($ in millions) Walmart Target Net

Assume selected financial data for Walmart and Target, two close competitors in the retail industry, are as follows: ($ in millions) Walmart Target Net Sales $455,854 75,066 Beginning Accounts Receivable Ending Accounts Receivable $5,664 6,453 $6,537 6,227 Required: 1-a. Calculate the receivables turnover ratio and average collection period for Walmart and Target. (Enter your answers in millions. Do not round your intermediate calculations and round your answers to 1 decimal place.) Receivables Turnover Ratio Net sales Average accounts receivable Walmart Target $ $ 455,854/ 75,066/ = = Receivables Turnover Ratio times 0 times

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