Your boss asks you to compute the company's cash conversion cycle. Looking at the financial statements, you
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Question:
Your boss asks you to compute the company's cash conversion cycle. Looking at the financial statements, you see that the average inventory for the year was $127,400, accounts receivable were $98,880, and accounts payable were at $123,800. You also see that the company had credit sales of $333,420 and that cost of goods sold was $291,000 What is your firm's cash conversion cycle? Round to the nearest day.
Related Book For
Fundamentals of corporate finance
ISBN: 978-0470876442
2nd Edition
Authors: Robert Parrino, David S. Kidwell, Thomas W. Bates
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