ClearView Optics reports the following data for the year: • Annual credit sales: $300,000 • • Annual cost of goods sold (COGS): $210,000 Average inventory: $7,000 • Average accounts receivable: $25,000 • Average accounts payable: $18,000 Assuming a 365-day year, what is the company's cash conversion cycle?

ClearView Optics reports the following data for the year: • Annual credit sales: $300,000 • • Annual cost of goods sold (COGS): $210,000 Average inventory: $7,000 • Average accounts receivable: $25,000 • Average accounts payable: $18,000 Assuming a 365-day year, what is the company's cash conversion cycle?

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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