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A manufacturer reports the data below. Accounts payable Accounts receivable Inventory Net sales Cost of goods sold Current Year $ 7,463 25,945 9,764 178,000 89,000 Prior Year $ 11,408 17,684 9,135 129,000 119,000

A manufacturer reports the data below. Accounts payable Accounts receivable Inventory Net sales Cost of goods sold Current Year $ 7,463 25,945 9,764 178,000 89,000 Prior Year $ 11,408 17,684 9,135 129,000 119,000

FINANCIAL ACCOUNTING
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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Exercise 22-20 (Algo) Cash conversion cycle LO A4 A manufacturer reports the data below. Accounts payable Accounts receivable Inventory Net sales Cost of goods sold Current Year $ 7,463 25,945 9,764 Required 1 Required 2 178,000 89,000 (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? Cash conversion cycle Prior Year $ 11,408 17,684 9,135 Complete this question by entering your answers in the tabs below. 129,000 119,000 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 days
Transcribed Image Text:Exercise 22-20 (Algo) Cash conversion cycle LO A4 A manufacturer reports the data below. Accounts payable Accounts receivable Inventory Net sales Cost of goods sold Current Year $ 7,463 25,945 9,764 Required 1 Required 2 178,000 89,000 (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? Cash conversion cycle Prior Year $ 11,408 17,684 9,135 Complete this question by entering your answers in the tabs below. 129,000 119,000 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 days
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