Consider the following financial statement information for the Newk Corporation: Item Beginning Ending Inventory $ 10,600 $ 11,600 Accounts receivable 5,600 5,900 Accounts payable 7,800 8,200 Net sales $ 86,000 Cost of goods sold 66,000 Calculate the operating and cash cycles. (Use 365 days a year. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

Consider the following financial statement information for the Newk Corporation: Item Beginning Ending Inventory $ 10,600 $ 11,600 Accounts receivable 5,600 5,900 Accounts payable 7,800 8,200 Net sales $ 86,000 Cost of goods sold 66,000 Calculate the operating and cash cycles. (Use 365 days a year. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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