Question: The following data are available for the current year for C Company. C Company uses a 365-day year when computing ratios. Annual credit sales

The following data are available for the current year for C Company.

The following data are available for the current year for C Company. C Company uses a 365-day year when computing ratios. Annual credit sales = $18 million Cost of goods sold = $12 million Inventory $3 million = Accounts receivable = $3.6 million. Accounts payable outstanding = $ 2million a) What is the operating cycle of C Company? b) What is the cash conversion cycle of C Company? (25p)

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