Compute the turnover for the accounts receivable and inventory the average age of receivables and
QUESTION
Analyzing the Impact of Selected Transactions on Receivable and Inventory Turnover Procter & Gamble is a multinational corporation that manufactures and markets many products that are probably in your home. Last year, sales for the company were $76,476 (all amounts in millions). The annual report did not disclose the amount of credit sales, so we will assume that 90 percent of sales were on credit. The average gross profit rate was 52 percent on sales. Account balances follow:
Beginning
Ending
Accounts receivable (net)
$6,629
ANSWER:
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