Computing and Evaluating Receivables, Inventory, and PPE Turnovers 3M Company reports the following financial statement...
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Accounting
Computing and Evaluating Receivables, Inventory, and PPE Turnovers
3M Company reports the following financial statement amounts in its 10-K report:
($ millions)
Sales
Cost of Sales
Receivables
Inventories
PPE, net
2014
$32,111
$18,193
$3,867
$3,416
$7,666
2013
29,162
16,331
3,615
3,155
7,279
2012
24,123
13,109
3,250
2,639
7,000
Required Compute the receivables, inventory, and PPE turnover ratios for both 2014 and 2013. (Receivables turnover and inventory turnover are discussed in Chapters 6 and 7, respectively.) Round to two decimal places. Receivable turnover rate:
2014
Answer
2013
Answer
Inventory turnover rate:
2014
Answer
2013
Answer
PPE turnover rate:
2014
Answer
2013
Answer
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