The information below is extracted from Coles Ltd's 2021 Income Statement and Balance Sheet. Item Amount (in
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Question:
The information below is extracted from Coles Ltd's 2021 Income Statement and Balance Sheet.
Item | Amount (in $ millions) |
Sales | 38,955 |
Cost of Goods Sold (COGS) | 30,286 |
Accounts Receivable | 368 |
Inventory | 2,107 |
Accounts Payable | 2,794 |
Use the following additional information to answer the questions.
Item | No. of days |
Inventory Days | 25 |
Accounts Receivable Days | 3 |
Accounts Payable Days | 34 |
Round your numeric answer to the nearest day.You can insert a negative sign (-).
Calculate the Cash Conversion Cycle for Coles Ltd (1 mark). Explain why Coles can achieve this Cash Conversion Cycle (maximum 50
Related Book For
Intermediate Accounting
ISBN: 9781259722660
9th Edition
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
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