Assume Groovy Grocery Companies Limited reported these figures in millions of dollars: 2020 2019 Net...
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Assume Groovy Grocery Companies Limited reported these figures in millions of dollars: 2020 2019 Net sales $ 35 384 $ 35,640 Receivables at end of year 930 738 Requirements 1. Compute Groovy Grocery's average collection period during 2020 2. Was Groovy Grocery's collection period long or short? Eleven Corporation of Saskatchewan takes 36 days to collect its average level of receivables. Dofasco, the overnight shipper, takes 40 days. What causes Groovy Grocery's collection period to be so different? Requirement 1. Compute Groovy Grocery's average collection period during 2020. (Round all interim steps and the final answer to the nearest whole number.) The average collection period is days
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