Harmony Beats Inc. has forecasted sales of $40,000,000 for next year and expects its cost of goods sold (COGS) to remain at 75% of sales. Currently, the firm holds $4,000,000 in inventories, $3,000,000 in accounts receivable, and $3,500,000 in accounts payable. What is the length of Harmony Beats Inc.'s cash conversion cycle (CCC)? a. 45.82 days b. 33.44 days c. 42.75 days d. 40.53 days

Harmony Beats Inc. has forecasted sales of $40,000,000 for next year and expects its cost of goods sold (COGS) to remain at 75% of sales. Currently, the firm holds $4,000,000 in inventories, $3,000,000 in accounts receivable, and $3,500,000 in accounts payable. What is the length of Harmony Beats Inc.'s cash conversion cycle (CCC)? a. 45.82 days b. 33.44 days c. 42.75 days d. 40.53 days

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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