Business, 05.05.2020 15:02 summerj0hns17

Ralph Lauren: Accounts receivable turnover and number of days' sales in receivables Ralph Lauren Corporation designs, markets, and distributes a variety of apparel, home dÃ©cor, accessory, and fragrance products. The company's products include such brands as Ralph Lauren, Polo by Ralph Lauren, and Chaps. For two recent years, the company reported the following (in millions):

Year 2 Year1 Sales Accounts receivable (end of year) The accounts receivable at the beginning of Year 1 was $458 million. a. Compute the accounts receivable turnover for Year 1 and Year 2. Round to one decimal place. 655 588 Year 1 Year 2 Accounts Receivable Turnover b. Compute the number of days' sales in receivables for Year 1 and Year 2. Use 365 days and round all calculations to one decimal place. Year 1 Year 2 Number of Days' Sales in Receivables days days c. The change in the accounts receivable turnover from year 1 to year 2 indicates a(n) is a(n) in the efficiency of collecting accounts receivable and trend. trend. The change in the days' sales in receivables is a(n)

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