23. Use the following financial statement information: Item Inventory Accounts Receivable Accounts Payable Credit Sales Cost of goods Sold Beginning $1,500 2,300 1,400 $18,250 $14,500 Ending $1,800 2,600 1,100 Calculate the inventory period The receivables period -49 days. Calculate the operating cycle. In a very short sentence, interpret the result. The accounts payable period = 31 days. Calculate the cash cycle. In a very short entence, interpret the result.

23. Use the following financial statement information: Item Inventory Accounts Receivable Accounts Payable Credit Sales Cost of goods Sold Beginning $1,500 2,300 1,400 $18,250 $14,500 Ending $1,800 2,600 1,100 Calculate the inventory period The receivables period -49 days. Calculate the operating cycle. In a very short sentence, interpret the result. The accounts payable period = 31 days. Calculate the cash cycle. In a very short entence, interpret the result.

Name: 23. Use the following financial statement information:ItemInventoryAc
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Description: 23. Use the following financial statement information:ItemInventoryAccounts ReceivableAccounts PayableCredit SalesCost of goods SoldBeginning$1,5002,3001,400$18,250$14,500Ending$1,8002,6001,100Calculate the inventory periodThe receivables period -49

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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