Question: be Maps Essential Collaborat. NM D Question 4 10 pts Potter Industries has the following values on the financial statements: Inventory beginning balance $11,000, ending

 be Maps Essential Collaborat. NM D Question 4 10 pts Potter

be Maps Essential Collaborat. NM D Question 4 10 pts Potter Industries has the following values on the financial statements: Inventory beginning balance $11,000, ending balance $12,000. Accounts Receivable beginning balance $6,000 and $6,300 ending balance. Accounts Payable beginning balance is $8,200 and ending balance is $8,600. Credit sales of $90,000 and Cost of goods sold of $70,000. Calculate the operating and cash cycles. (Use 365 days a year. Do not round intermediate calculations. Round the final answers to 2 decimal places.) Inventory turnover in days (round to 2 decimals) Receivable period in days (round to 2 decimals) Operating cycles in days (round to 2 decimals) Payables turnover in days (round to 2 decimals) The form is receiving cash on average days after it pays its bills. (round to 2 decimals)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!