2013

AR, beg. 2,714,763,623

AR Turnover Ratio= Net Credit Sales AR, end. 3,128,358,963
Ave. AR 5,843,122,586
Divide by: 2
80,282,769,199 Ave. AR 2,921,561,293
2,921,561,293

AR Turnover Ratio= 27.48

AR Turnover Days= 360

27.5
AR Turnover Days= 13.10 13 Days

Inventory Turnover= Cost of Sales Inventory, beg. 2,616,182,585

Ave. Inventory Inventory, end 3,509,791,192
6,125,973,777
65,284,763,064 Divide by: 2
3,062,986,889 Ave. Inventory 3,062,986,889

Inventory Turnovers= 21

Inventory Turnovers Days= 360

21

Inventory Turnovers Days= 17.14 17 Days

Accounts Payable Turnover= Total Purchases Total Purchases

Ave. Accounts Payable

66,178,371,671
5,361,852,133

Accounts Payable Turnover= 12 Accounts Payable, beg

Accounts Payable, end

Divide by:
Ap Turnover days= 360 Ave. AP
12
Ap Turnover days= 30 30 Days
Inventory, end 3,509,791,192
COS 65,284,763,064
68,794,554,256
Less: Inventory, beg -2,616,182,585
Gross Purchases 66,178,371,671

6,006,639,836
4,717,064,430
10,723,704,266
2
5,361,852,133