Use the following information and 365 days to compute the firm's cash conversion cycle. Average inventory =
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Question:
Use the following information and 365 days to compute the firm's cash conversion cycle. Average inventory = $75,000; Annual sales = $600,000; Annual cost of goods sold = $360,000; Average accounts receivable = $160,000; Average accounts payable = $25,000.
a. 120.6 days
b. 126.9 days
c. 133.6 days
d. 140.6 days
e. 148.0 days
Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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