Home Office transfers inventory to its Branch at a 20% mark-up on cost. During 2020, inventory costing the Home Office P64,000 was transferred to the Branch. At year-end the Home Office adjusted its Allowance for Overvaluation account downward by P14,560. The Branch's year-end balance sheet shows P3,840 acquired from Home Office. How much is the beginning inventory of the Branch at cost?

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Conversion Cycle

Conversion cycle is also known as cash cycle or net operating cycle. Conversion cycle refers to how much time a company takes to turn its investments which is done from stock or any other financial resources into cash flows from sales.