Suppose that LilyMac Photography has annual sales of $230,000, cost of goods sold of $165,000, average inventories of $4,500, average accounts receivable of $25,000, and an average accounts payable balance of $7,000. Assuming that all of LilyMac’s sales are on credit, what will be the firm’s cash cycle?
Answer to relevant QuestionsSuppose that the Ken-Z Art Gallery has annual sales of $870,000, cost of goods sold of $560,000, average inventories of $244,500, average accounts receivable of $265,000, and an average accounts payable balance of $79,000. ...HotFoot Shoes would like to maintain their cash account at a minimum level of $25,000, but expect the standard deviation in net daily cash flows to be $4,000, the effective annual rate on marketable securities to be 6.5 ...Sow Tire, Inc., has sales of $1,450,000 and cost of goods sold of $980,000. The firm had a beginning inventory of $97,000 and an ending inventory of $82,000. What is the length of the days’ sales in inventory? Compare and contrast the use of pro forma financial statements in corporate financial planning with their use in accounting.John’s Bait and Fish shop has had the monthly sales amounts listed as follows for the last four years. Assuming that there is both seasonality and a trend, estimate monthly sales for each month of the comingyear.
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