Apple Inc. reported in its 2011 financial statements the following numbers: Table 3 Item Amount (in millions)
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Question:
Apple Inc. reported in its 2011 financial statements the following numbers:
Item | Amount (in millions) |
---|---|
Total revenue | 108,000 |
Cost of revenue | 64,400 |
Inventory | 776 |
Account receivables | 13,700 |
Account payable | 23,900 |
Assuming 360 days a year, what is the average collection period (ACP)?
ACP = days (e.g., 105 days)
Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
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