Question: Suppose that LilyMac Photography has annual sales of $240,000, cost of goods sold of $175,000, average inventories of $5,500, average accounts receivable of $27,000, and an average accounts payable balance of $18,200. Assuming that all of LilyMac's sales are on credit, what will be the firm's cash cycle? (Use 365 days a year. Do not round intermediate calculations and round your final answer to 2 decimal places.)
Question: Suppose that LilyMac Photography has annual sales of $240,000, cost of goods sold of $175,000, average inventories of $5,500, average accounts receivable of $27,000, and an average accounts payable balance of $18,200. Assuming that all of LilyMac's sales are on credit, what will be the firm's cash cycle? (Use 365 days a year. Do not round intermediate calculations and round your final answer to 2 decimal places.)
Chapter17: The Management Of Cash And Marketable Securities
Section: Chapter Questions
Problem 2P
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Transcribed Image Text:Question:
Suppose that LilyMac Photography has annual sales of $240,000,
cost of goods sold of $175,000, average inventories of $5,500,
average accounts receivable of $27,000, and an average
accounts payable balance of $18,200.
Assuming that all of LilyMac's sales are on credit, what will be the
firm's cash cycle? (Use 365 days a year. Do not round
intermediate calculations and round your final answer to 2 decimal
places.)
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