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Compute nike''s accounts receivable turnover ratio

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Reference no: EM132420522

The financial statements included in the 2015 Form 10-K of Nike reported the following amounts (in millions of dollars):

Revenues, for the year ended May 31, 2015 $30,601

Accounts receivable, net, May 31, 2015  3,358

Accounts receivable, net, May 31, 2014  3,434

Required:

1. Compute Nike's accounts receivable turnover ratio for the year ended May 31, 2015. Assume that all sales are on credit. Round your answer to two decimal places.

2. What is the average collection period in days for an account receivable. (assuming 360 in a year) Round the final answer to the nearest number.

Reference no: EM132420522

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