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Computing and Evaluating Receivables, Inventory, and PPE Turnovers 3M Company reports the following financial statement...

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Accounting

Computing and Evaluating Receivables, Inventory, and PPE Turnovers

3M Company reports the following financial statement amounts in its 10-K report:

($ millions) Sales Cost of Sales Receivables Inventories PPE, net
2014 $32,111 $18,193 $3,867 $3,416 $7,666
2013 29,162 16,331 3,615 3,155 7,279
2012 24,123 13,109 3,250 2,639 7,000

Required Compute the receivables, inventory, and PPE turnover ratios for both 2014 and 2013. (Receivables turnover and inventory turnover are discussed in Chapters 6 and 7, respectively.) Round to two decimal places. Receivable turnover rate:

2014 Answer
2013 Answer

Inventory turnover rate:

2014 Answer
2013 Answer

PPE turnover rate:

2014 Answer
2013 Answer

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