A manufacturer reports the data below. Accounts payable Accounts receivable Inventory Net sales Cost of goods sold Current Year $ 7,203 25,285 9,504 181,000 91,000 E TI Prior Year $ 11,148 17,506 8,855 133,000 120,000 (1) Compute the number of days in the cash conversion cycle for each year. (2) Did the company manage cash more effectively in the current year? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the number of days in the cash conversion cycle for each year. (Use 365 days in a year. Round calculations to the nearest whole day.) Current year Prior year Cash conversion cycle days days Required 1 Required 2 >

A manufacturer reports the data below. Accounts payable Accounts receivable Inventory Net sales Cost of goods sold Current Year $ 7,203 25,285 9,504 181,000 91,000 E TI Prior Year $ 11,148 17,506 8,855 133,000 120,000 (1) Compute the number of days in the cash conversion cycle for each year. (2) Did the company manage cash more effectively in the current year? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the number of days in the cash conversion cycle for each year. (Use 365 days in a year. Round calculations to the nearest whole day.) Current year Prior year Cash conversion cycle days days Required 1 Required 2 >

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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