Computing Activity Ratios The following amounts are summarized from information included in a Publix Super Markets Inc. recent annual Form 10-K ($ millions). Account Bal. Sales $44,864 Cost of goods sold 32,355 Accounts receivable, average balance 827 Inventory, average balance 1,974 Accounts payable, average balance 2,200 Compute the following ratios: a. Accounts receivable turnover b. Average days to collect receivables c. Inventory turnover d. Average days in inventory e. Accounts payable turnover f. Average days payable outstanding g. Cash conversion cycle Ratio Numerator Denominator Result Accounts receivable turnover = Average days to collect receivables = Inventory turnover = Average days in inventory = Accounts payable

Ratio	Numerator		Denominator		Result
	Accounts receivable turnover				=
	Average days to collect receivables				=
	Inventory turnover				=
	Average days in inventory				=
	Accounts payable turnover				=
	Average days payable outstanding				=

Cash conversion cycle: Answer