Question: Suppose that LilyMac Photography has annual sales of 230 000 cost
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?
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