for the fiscal year ending 31 January 1994 was 0.15:1 (based on data obtained from: Wal Mart, 1994, p. 12). This ratio represented an improvement from the 0.13:1 ratio for fiscal year 1993. The norm for the industry is 0.19:1; therefore, Wal Mart's short term liquidity as reflected by the acid test ratio is somewhat below the industry norm.
Days Sales in Accounts Receivable. Wal Mart's days sales in accounts receivable for the fiscal year ending 31 January 1994 was 0.0 days (based on data obtained from: Wal Mart, 1994, p. 12). This ratio represented no change from fiscal year 1993 (Wal Mart is a cash business; credit sales are through third party credit cards). The norm for the industry is 32 days, therefore, Wal Mart's short term liquidity as reflected by days sales in accounts receivable is far superior to the industry norm.
Inventory Turnover. Wal Mart's inventory turnover for the fiscal year ending 31 January 1994 was 6.1 times (based on data obtain
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