Question: A manufacturer reports the data below. Current Year Prior Year Accounts payable $ 5,123 $ 9,358 Accounts receivable 23,085 16,682 Inventory 7,424 6,615 Net sales

A manufacturer reports the data below. Current Year Prior Year Accounts payable $ 5,123 $ 9,358 Accounts receivable 23,085 16,682 Inventory 7,424 6,615 Net sales 218,386 183,360 Cost of goods sold 123,066 12?,660 [1} Compute the number of days H] the cash conversion cycle for each year. [2} Did the companyr manage cash more effectively in the current year? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the number of days in the cash conversion cycle for each year. (Use 365 days in a year. Round calculations to the nearest whole day.)
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