Quick answer of this accounting questions Pine Technology has the following annual financial data:•Annual sales: $6.5 million (all credit sales)⚫ Cost of goods sold: $4.5 million⚫ Average inventory: $2.4 million⚫ Average accounts receivable: $1.2 millionCalculate Pine Technology's operating cycle.

Step 1: Definition of Operating CycleThe operating cycle is the time it takes for a company to…

Answered: Pine Technology has the following…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter18: The Management Of Accounts Receivable And Inventories

Section: Chapter Questions

Problem 1P

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Pine Technology has the following annual financial data: • Annual sales: $6.5 million (all credit sales) ⚫ Cost of goods sold: $4.5 million ⚫ Average inventory: $2.4 million ⚫ Average accounts receivable: $1.2 million Calculate Pine Technology's operating cycle.