Question: Please write the working using pen if possible QUESTION 6: Buy-Cream Products (BCP) has an average accounts receivable balance of $1,250,000; an average inventory balance

 Please write the working using pen if possible QUESTION 6: Buy-Cream

Please write the working using pen if possible

QUESTION 6: Buy-Cream Products (BCP) has an average accounts receivable balance of $1,250,000; an average inventory balance of $1,750,000; and an average accounts payable balance of $800,000. Its annual sales are $12,000,000 and its cost of goods sold represents 80% of annual sales. Annual purchases represent 75% of the cost of goods sold. Assume there are 365 days in a year. What is BCP's cash conversion cycle? [Total: 10 marks) N.B. Round to two decimal places

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