You are the new manager of Accounts Payable. As a proud UM graduate, you have worked hard and reduced the AP balance below by 9.5%. What is the new CashCT value (in days) given the following data before your improvements: Days in the period: 85 Sales: $15525000 AR: $3060000 AP: $5450000 Inventory: $4450000 Cost of Sales: 73.2 (Keep two decimal places in your answer)

Answer rating: 100% (QA)

ANSWER Cash Conversion Cycle Average Inventory Cost of Goods Sold days in the p... View the full answer