A manufacturer reports the data below. Accounts payable Accounts receivable Inventory Net sales Cost of goods sold Required 1 Required 2 Current Year $ 7,723 26,605 10,024 175,000 87,000 (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. Cash conversion cycle Prior Year $ 11,668 17,862 9,415 125,000 118,000 Compute the number of days in the cash conversion cycle for each year. Note: Use 365 days in a year. Round calculations to the nearest whole day.) Current year days Prior year Required 1 days Required 2 >

A manufacturer reports the data below. Accounts payable Accounts receivable Inventory Net sales Cost of goods sold Required 1 Required 2 Current Year $ 7,723 26,605 10,024 175,000 87,000 (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. Cash conversion cycle Prior Year $ 11,668 17,862 9,415 125,000 118,000 Compute the number of days in the cash conversion cycle for each year. Note: Use 365 days in a year. Round calculations to the nearest whole day.) Current year days Prior year Required 1 days 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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