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Procter \& Gamble is a multinational corporation that manufactures and markets many household products. Assume sales for the company in a recent year were $77,000 (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 on sales was 50 percent. Additional account balances were: Required: Compute Procter \& Gamble's receivables turnover ratio and its inventory turnover ratio. On average, how many days does it take for the company to collect its accounts receivable and sell its inventory? Complete this question by entering your answers in the tabs below. take for the company to collect its accounts receivable and sell its inventory? Complete this question by entering your answers in the tabs below. Compute Procter \& Gamble's receivables turnover ratio and its inventory turnover ratio. Note: Round your intermediate calculations and final answers to 2 decimal places. Complete this question by entering your answers in the tabs below. How many days does it take for the company to collect its accounts receivable and sell its inventory? Note: Use 365 days in a year. Round your intermediate and final answers to 2 decimal places

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