Accounts Receivable and Inventory Analyses for Kellogg's and General Mills   The following information was obtained from the fiscal year 2014 and 2013 financial statements included in Form 10-K of Kellogg Company and Subsidiaries and GeneralMills, Inc

a) Accounts Receivable Turnover Ratio = Net Sales Revenue / Average Accounts Receivable
Kelloggs = $14580 / $1350 = 10.80 times
Average Accounts Receivable = ($1276 + $1424) / 2 = $1350

General Mills = $17,909.6 / $1465 = 12.22 times
Average Accounts Receivable = ($1483.6 + $1446.4) /2 = $1465

b) Number of days sales in receivables = 360 / Accounts Receivable Turnover Ratio
Kelloggs = 360 / 10.80 = 33.33 or 33 days
General Mills = 360 / 12.22 = 29.45 ot 29 days

c) Inventory Turnover Ratio = Cost of Goods Sold / Average Inventory
Kelloggs = $9,517 / $1,263.50 = 7.53 times
Average Inventory = ($1279 + $1248) / 2 = $1,263.50

General Mills = $11,539.8 / $1,552.45 = 7.43 times
Average Inventory = ($1559.4 + $1545.5) = $1,552.45

d) Number of days sales in inventory = 360 / Inventory Turnover Ratio
Kelloggs = 360 / 7.53 = 47.79 or 48 days
General Mills = 360 / 7.43 = 48.43 or 48 days

e) Cash to cash operating cycle = Days inventory outstanding + Days sales outstanding
Kelloggs = 48 + 33 = 81 days
General Mills = 48 + 29 = 77 days