Please help me with my Accounting assignments. I already worked for it, just want to confirm from experts. Thanks in advance! Luke Company has an inventory conversion period of 60 days, a receivablesconversion period of 45 days, and a payments cycle of 30 days. What is thelength of the firm's cash conversion cycle?90 daysB. 75 daysA.54 daysD. 105 daysC.Samaritan Supplies, Inc. has P5 million in inventory and P2 million inaccounts receivable. Its average daily sales are P100,000. The company has P1.5million in accounts payable. Its average daily purchases are P50,000. What isthe length of the company's inventory conversion period?A. 50 daysB. 90 daysC. 120 daysD. 40 daysUsing the information in the last question, what is the length of the company'scash conversion period?A. 50 daysB. 20 daysC. 30 daysD. 40 daysJulia Company has P5 millioh of average inventory and sales of P30 million.Using a 365-day year, calculate the firm's inventory conversion period.A. 30.25 daysB. 45.00 daysC. 60.83 daysD. 72.44 days Problem 4 (The Operating and Cash Cycles)Consider the following financial statement information for Avocado Company.ItemBeginningEndingInventoryAccounts receivableAocounts payableNet salesCost of goods soldP1,2733,8721,795P1,4013,3682,025P14,75011,375Calculate the operating and cash cycles.

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Luke Company has an-inventory conversion period of 60 days, a receivables conversion period of 45 days, and a payments cycle of 30 days. What is the length of the firm's cash conversion cycle? 90 days А. В. 75 days C. 54 days D. 105 days

Luke Company has an-inventory conversion period of 60 days, a receivables conversion period of 45 days, and a payments cycle of 30 days. What is the length of the firm's cash conversion cycle? 90 days А. В. 75 days C. 54 days D. 105 days

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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Question

Please help me with my Accounting assignments. I already worked for it, just want to confirm from experts. Thanks in advance!

Luke Company has an inventory conversion period of 60 days, a receivables
conversion period of 45 days, and a payments cycle of 30 days. What is the
length of the firm's cash conversion cycle?
90 days
B. 75 days
A.
54 days
D. 105 days
C.
Samaritan Supplies, Inc. has P5 million in inventory and P2 million in
accounts receivable. Its average daily sales are P100,000. The company has P1.5
million in accounts payable. Its average daily purchases are P50,000. What is
the length of the company's inventory conversion period?
A. 50 days
B. 90 days
C. 120 days
D. 40 days
Using the information in the last question, what is the length of the company's
cash conversion period?
A. 50 days
B. 20 days
C. 30 days
D. 40 days
Julia Company has P5 millioh of average inventory and sales of P30 million.
Using a 365-day year, calculate the firm's inventory conversion period.
A. 30.25 days
B. 45.00 days
C. 60.83 days
D. 72.44 days

Problem 4 (The Operating and Cash Cycles)
Consider the following financial statement information for Avocado Company.
Item
Beginning
Ending
Inventory
Accounts receivable
Aocounts payable
Net sales
Cost of goods sold
P1,273
3,872
1,795
P1,401
3,368
2,025
P14,750
11,375
Calculate the operating and cash cycles.

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