Question: Below are amounts ( in millions ) from three companies' annual reports. Beginning Accounts Receivable Ending Accounts Receivable Net Sales WalCo $ 1 , 6

Below are amounts (in millions) from three companies' annual reports.
Beginning Accounts Receivable Ending Accounts Receivable Net Sales
WalCo $1,665 $2,612 $307,427
TarMart 5,4165,94452,878
CostGet 47951553,963
Required:
1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet.
2. Which company appears most efficient in collecting cash from sales?

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