Computing Turnover Ratios for Companies in Different Industries

Selected data from recent financial statements of The Procter & Gamble Company, CVS Health Corporation, and Valero Energy Corporation are presented below:

($ millions)	Procter & Gamble	CVS Health	Valero Energy
Sales	$91,680	$31,006	$130,987
Cost of sales	44,391	8,167	117,719
Average receivables	6,172	1,257	6,645
Average inventories	7,050	113	5,285
Average PP&E	20,835	22,448	23,923
Average total assets	135,299	32,483	40,202

a. Compute the asset turnover (AT) ratio for each company. (Round your answers to one decimal place.)

	Asset Turnover
Procter & Gamble
CVS
Valero Energy

b. Compute the accounts receivable turnover (ART), inventory turnover (INVT), and PP&E turnover (PPET) for each company. (Round your answers to one decimal place.)

	ART	INVT	PPET
Procter & Gamble
CVS
Valero Energy