Financial Accounting Question need help Sterling Enterprises provides the following financial data:Income Statement DataSales = $8,500=. Cost of Goods Sold (COGS) $7,200Balance Sheet Data•Inventory $800• Accounts Receivable = $350Accounts Payable = $500Calculate the Cash Conversion Cycle (CCC) for Sterling Enterprises. Use 365days in a year, and round answers to one decimal place.

Step 1: Days Inventory Oustanding (DIO)= inventory / (cost of goods sold / days in a year)= 800 /…

Answered: Sterling Enterprises provides the…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter16: Working Capital Policy And Short-term Financing

Section: Chapter Questions

Problem 12P

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