Granite Gear Co. provided the following information. Calculate (a) the operating cycle and (b) the cash conversion cycle: Item Amount Average Inventory $35,000 Average Accounts Receivable $40,000 Average Accounts Payable $25,000 Sales $240,000 Cost of Goods Sold (COGS) $150,000
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- Teams MSFT Corporation has the following information: Inventory conversion period 79.02 days Receivables collection period 35.8 days Payables deferral period 9.6 days Can you determine the length of time (days) for them to cycle cash in the company? (represent your numeric result in two decimal places)Compute for Receivable Collection Period, Inventory Conversion Period, Payables Deferral period and Cash Conversion Cycle of Company ABS for the following data Ave. Receivables P1,850,450 659,800 Net Credit Sales, Cost of Sales 3,180.430 1,740.200 Ave. Inventory Ave. Payables 520,300 Compare Company ABS's Cash Conversion Cycle to Company CBN which has 194 days of cC. Which company has better conversion cycle and why?What is the cash conversion cycle for XYZ Company, based on the following information? Inventory: $20,000 Daily purchases: $1,000 Receivables: $12,000 Daily revenue: $4,000 Payables: $8,000 Daily purchases: $800
- Calculate the accounts receivable period, accounts payable period, inventory period, and cash conversion cycle for the following firm: Income statement data: Sales 5,000 Cost of goods sold 4,200 Balance Sheet Data: Beginning of Year End of Year Inventory 500 600 Accounts Receivable 100 120 Accounts Payable 250 290A manufacturer reports the data below. Accounts payable Accounts receivable Inventory Net sales $ 9,649 18,474 5,455 233,607 Cost of goods sold 138,200 (1) Compute the number of days in the cash conversion cycle. (2) Is the company more efficient at managing cash than its competitor who has a cash conversion cycle of 14 days? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the number of days in the cash conversion cycle. Note: Use 365 days in a year. Round calculations to the nearest whole day. Cash conversion cycle daysJordan Enterprises has inventory days of 52, accounts receivable days of 25, and accounts payable days of 34. What is its cash conversion cycle? A.) 43 days B.) 58 days C.) 65 days D.) 72 days
- Calculating Cycles Consider the following financial statement information for the Hop Corporation: Item Beginning Ending Inventory $16,284 $19,108 Accounts Receivable 11,219 13,973 Accounts Payable 13,960 16,676 Net Sales $219,320 Cost of Goods Sold 168,420 Calculate the operating and cash cycles. How do you interpret your answer?Shown below in T-account format are the beginning and ending balances ($ in millions) of both inventory and accounts payable. Debit Beginning balance Ending balance Inventory 150.0 154.2 Credit Accounts Payable Debit Credit 48.0 Beginning balance 53.4 Ending balance Required: 1. Use a T-account analysis to determine the amount of cash paid to suppliers of merchandise during the reporting period if cost of goods sold was $360 million. 2. Prepare a summary entry that represents the net effect of merchandise purchases during the reporting period. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Use a T-account analysis to determine the amount of cash paid to suppliers of merchandise during the reporting period if cost of goods sold was $360 million. Note: Enter your answer in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5). Cash paid to suppliers millionCalculating Cycles Consider the following financial statement information for the Hop Corporation: Item Beginning Ending Inventory $16,284 $19,108 Accounts receivable 11,219 13,973 Accounts payable 13,960 16,676 Net Sales $219,320 Cost of Goods sold 168,420 Calculate the operating and cash cycles. How can you interprete your answer?
- You are provided the following working capital information for the Ridge Company: Account Inventory $ $12,890 Accounts receivable 12,800 Accounts payable 12,670 Net sales $124,589 99,630 Cost of goods sold What is the cash conversion cycle for Ridge Company? a. 38.3 days b. 129.9 days c. 83.5 days d. 46.4 daysShown below In T-account format are the beginning and ending balances ($ in millions) of both Inventory and accounts payable. Inventory Debit 110.0 115.0 Beginning balance Ending balance Accounts Payable Debit Credit Credit 32.0 Beginning balance. 35.8 Ending balance Required: 1. Use a T-account analysis to determine the amount of cash paid to suppliers of merchandise during the reporting period if cost of goods sold was $280 million. 2. Prepare a summary entry that represents the net effect of merchandise purchases during the reporting period.Attached Question