Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
The cash balance of AIT CATERING SERVICE has declined significantly over the last 12 months. The following financial information is provided.
|
|
|
2008 |
2009 |
||
|
|
sales |
573,000 |
643.000 |
||
|
|
Purchases of Raw materials |
215,000 |
264,000 |
||
|
|
Raw material consumed |
210,000 |
256,000 |
||
|
|
Cost of goods manufactured |
435,000 |
515,000 |
||
|
|
Cost of goods sold |
420,000 |
460,000 |
|
|
|
|
Debtors |
97,100 |
121,500 |
||
|
|
Creditors |
23,900 |
32,500 |
||
|
stock: |
Raw materials |
22,400 |
30,000 |
|
|
|
|
Work in progress |
29,000 |
34,300 |
|
|
|
|
finished goods |
70,000 |
125,000 |
|
All purchases and sales were made on credit. Assume a 360-day calculate the firm’s operating cycle?
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