Problem
The following information is extracted from Woolworths Ltd's 2021 Income Statement and Balance Sheet.
|
Item
|
Amount (in $ millions)
|
|
Sales
|
55,733
|
|
Cost of Goods Sold (COGS)
|
39,405
|
|
Accounts Receivable
|
480
|
|
Inventory
|
3,132
|
|
Accounts Payable
|
4,832
|
Use the following additional information to answer the questions:
|
Item
|
Amount (in $ millions per day)
|
|
Average Daily Sales
|
153
|
|
Average Daily COGS
|
108
|
Round your final answers to the nearest day.
• Calculate Inventory Days.
• Calculate Accounts Receivable Days.
• Calculate Accounts Payable Days.