Question: Given the following information, calculate the OPERATING CYCLE. Be sure to keep your interim calculations on hand. Beginning inventory = $50,000 Ending inventory = $45,000

Given the following information, calculate the OPERATING CYCLE. Be sure to keep your interim calculations on hand.

Beginning inventory = $50,000 Ending inventory = $45,000 Beginning Accounts Receivable = $60,000 Ending Accounts Receivable = $66,000 Beginning Accounts Payable = $70,000 Ending Accounts Payable = $84,000 Sales = $1,000,000 % credit sales = 70% Cost of goods sold = $450,000

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