Exercise 22-19 Cash conversion cycle LO A4 ($ millions) Accounts payable, end of year $ 49,049 Accounts receivable, net, end of year 17,874 Inventory, end of year 4,855 Net sales 229,234 Cost of goods sold 141,048 Use the information above to compute the number of days in the cash conversion cycle for Apple. (Use 365 days in a year. Round calculations to the nearest whole day. Negative numbers should be indicated by a minus sign.)

Exercise 22-19 Cash conversion cycle LO A4 ($ millions) Accounts payable, end of year $ 49,049 Accounts receivable, net, end of year 17,874 Inventory, end of year 4,855 Net sales 229,234 Cost of goods sold 141,048 Use the information above to compute the number of days in the cash conversion cycle for Apple. (Use 365 days in a year. Round calculations to the nearest whole day. Negative numbers should be indicated by a minus sign.)

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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Exercise 22-19 Cash conversion cycle LO A4

	($ millions)
Accounts payable, end of year	$	49,049
Accounts receivable, net, end of year		17,874
Inventory, end of year		4,855
Net sales		229,234
Cost of goods sold		141,048

Use the information above to compute the number of days in the cash conversion cycle for Apple. (Use 365 days in a year. Round calculations to the nearest whole day. Negative numbers should be indicated by a minus sign.)

Exercise 22-19 Cash conversion cycle LO A4
Accounts payable, end of year
Accounts receivable, net, end of year
Inventory, end of year
Net sales
($ millions)
$ 49,049
17,874
4,855
229,234
141,048
Cost of goods sold
Use the information above to compute the number of days in the cash conversion cycle for Apple. (Use 365 days in a year. Round
calculations to the nearest whole day. Negative numbers should be indicated by a minus sign.)
Cash conversion cycle
days

Definition Definition Money that the business will be receiving from its clients who have utilized the credit provided to buy its goods and services. The credit period typically lasts for a short term, lasting from a few days, a few months, to a year.

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