Sierra Electronics estimates that its operating cycle for the past year was 85 days. The company had $342,000 in accounts receivable and annual sales of $2.85 million. Approximately how many days does it take from the time components are received at Sierra until the finished products they are used to produce are sold?

Sierra Electronics estimates that its operating cycle for the past year was 85 days. The company had $342,000 in accounts receivable and annual sales of $2.85 million. Approximately how many days does it take from the time components are received at Sierra until the finished products they are used to produce are sold?

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter7: Analysis Of Financial Statements

Section: Chapter Questions

Problem 1P: Greene Sisters has a DSO of 20 days. The companys average daily sales are 20,000. What is the level...

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