Question: It takes a firm, on average, 49 days from when inventory is purchased until it is sold. Once the inventory is sold, the average collection
It takes a firm, on average, 49 days from when inventory is purchased until it is sold. Once the inventory is sold, the average collection time for the firm is 10 days. The firm pays its suppliers, on average, 28 days after inventory is received. For how many days must the firm secure short-term financing in this situation? Enter your answer to the nearest whole number. E.g., 12 or 336
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