National Co. has P5 million in inventory and P2 million in accounts receivable. Its average daily sales are P250,000. 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? *

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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National Co. has P5 million in inventory and P2 million in accounts receivable. Its average daily
sales are P250,000. 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? *
Format: 11
Transcribed Image Text:National Co. has P5 million in inventory and P2 million in accounts receivable. Its average daily sales are P250,000. 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? * Format: 11
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