Ralph Lauren Corporation (RL) designs, markets, and distributes a variety of apparel, home décor, 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 Year 1 Sales $7,230 $7,451 Accounts receivable (end of year) 517 655 The accounts receivable at the beginning of Year 1 was $588 million. a. Compute the accounts receivable turnover for Year 1 and Year 2. Round to one decimal place. Year 1 Year 2 Accounts Receivable Turnover fill in the blank 1 fill in the blank 2 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 fill in the blank 3 days fill in the blank 4 days
Ralph Lauren Corporation (RL) designs, markets, and distributes a variety of apparel, home décor, 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 Year 1 Sales $7,230 $7,451 Accounts receivable (end of year) 517 655 The accounts receivable at the beginning of Year 1 was $588 million. a. Compute the accounts receivable turnover for Year 1 and Year 2. Round to one decimal place. Year 1 Year 2 Accounts Receivable Turnover fill in the blank 1 fill in the blank 2 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 fill in the blank 3 days fill in the blank 4 days
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Ralph Lauren Corporation (RL) designs, markets, and distributes a variety of apparel, home décor, 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 | Year 1 | |||
| Sales | $7,230 | $7,451 | ||
| Accounts receivable (end of year) | 517 | 655 |
The accounts receivable at the beginning of Year 1 was $588 million.
a. Compute the accounts receivable turnover for Year 1 and Year 2. Round to one decimal place.
| Year 1 | Year 2 | |||
| Accounts Receivable Turnover | fill in the blank 1 | fill in the blank 2 |
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 | fill in the blank 3 days | fill in the blank 4 days |
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