Accounts payable, end of year Accounts receivable, net, end of year Inventory, end of year Net sales Cost of goods sold Current Year $ 6,163 22,645 8,464 194,000 103,000 Prior Year $ 10,108 15,794 7,735 153,000 123,000 (1) Use the information above to 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.
Accounts payable, end of year Accounts receivable, net, end of year Inventory, end of year Net sales Cost of goods sold Current Year $ 6,163 22,645 8,464 194,000 103,000 Prior Year $ 10,108 15,794 7,735 153,000 123,000 (1) Use the information above to 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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Accounts payable, end of year
Accounts receivable, net, end of year
Inventory, end of year
Net sales
Cost of goods sold
Current Year
$ 6,163
22,645
8,464
194,000
103,000
Prior Year
$ 10,108
15,794
7,735
153,000
123,000
(1) Use the information above to 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.
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