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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