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Calculate the cash conversion cycle for Riverdale Manufacturing, which has the following financial information: • Average inventory: $4.2 million • Average accounts receivable: $3.6 million • Average accounts payable: $2.8 million • Annual sales: $21.9 million • . Annual cost of goods sold: $14.6 million All sales are on credit

Calculate the cash conversion cycle for Riverdale Manufacturing, which has the following financial information: • Average inventory: $4.2 million • Average accounts receivable: $3.6 million • Average accounts payable: $2.8 million • Annual sales: $21.9 million • . Annual cost of goods sold: $14.6 million All sales are on credit

Intermediate Financial Management (MindTap Course List)
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter21: Supply Chains And Working Capital Management
Section: Chapter Questions
Problem 3MC
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Subject: financial accounting

Calculate the cash conversion cycle for Riverdale Manufacturing, which has the following financial information: • Average inventory: $4.2 million • Average accounts receivable: $3.6 million • Average accounts payable: $2.8 million • Annual sales: $21.9 million • . Annual cost of goods sold: $14.6 million All sales are on credit
Transcribed Image Text:Calculate the cash conversion cycle for Riverdale Manufacturing, which has the following financial information: • Average inventory: $4.2 million • Average accounts receivable: $3.6 million • Average accounts payable: $2.8 million • Annual sales: $21.9 million • . Annual cost of goods sold: $14.6 million All sales are on credit
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