Calculate the operating and cash cycles.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Consider the following financial statement information for the Newk Corporation:
Item
Inventory
Beginning
$ 6,226
Ending
$ 7,488
Accounts receivable
3,780
4,546
Accounts payable
5,126
6,165
Credit sales
$ 59,908
Cost of goods sold
39,092
Calculate the operating and cash cycles.
Operating cycle
Cash cycle
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