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Submit Procter & Gamble is a multinational corporation that manufactures and markets many products that are probably in your home. In a recent year, sales for the company were $76,118 (all amounts in millions of U.S. dollars). Assume that 90 percent of sales were on credit. The average gross margin rate was 50 percent on sales. Account balances follow: Beginning Ending Accounts receivable (net ) $4, 178 $4, 725 Inventory 5 ,498 5, 983 Required: 1. Compute the turnover ratios for the accounts receivable and inventory. (Round the final answers to 2 decimal places.) Accounts receivable turnover times Inventory turnover times 2. Compute the average days to collect receivables, and the average days to sell inventory. (Use 365 days a year. Round the intermediate calculations to 2 decimal places and the final answers to the nearest whole number.) Average days to collect receivables days Average days to sell inventory days