Question: please show work Sofia's Sheets is assessing its workeng capial position. Solia's accounts receivable turnover normally is 20 times. its inventory turnover is 12 ,
Sofia's Sheets is assessing its workeng capial position. Solia's accounts receivable turnover normally is 20 times. its inventory turnover is 12 , and its accounts payable turnover is 24 times. This year, the compary expects its cost of goods sold, which equals 75 percent of sales, to be $600,000. Calculate: (a) the cash comversion cycle and (b) the average balances in accounts recelvablo, accounts payable, and inventory
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