The following data (in millions) were adapted from recent financial statements of CVS Health Corporation (CVS): 1.
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The following data (in millions) were adapted from recent financial statements of CVS Health Corporation (CVS):
1. Compute the accounts receivable turnover for Years 1 and 2. Round to one decimal place.
2. Compute the days’ sales in receivables for Years 1 and 2. Round to the nearest day.
3. Compute the inventory turnover for Years 1 and 2. Round to one decimal place.
4. Compute the days’ sales in inventory for Years 1 and 2. Round to the nearest day.
5. Compute the return on sales for Years 1 and 2. Round to one decimal place.
6. Comment on CVS’ operations based upon the results in parts (1), (2), (3), (4) and (5).
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