Summit Gear Inc. has the following financial data (in thousands). Using a 365-day year, calculate the cash conversion cycle in days: ⚫ Annual Sales = $60,000 • ⚫ • Annual Cost of Goods Sold (COGS) = $40,000 • Inventory = $5,000 • Accounts Receivable = $3,000 • Accounts Payable = $3,200

Summit Gear Inc. has the following financial data (in thousands). Using a 365-day year, calculate the cash conversion cycle in days: ⚫ Annual Sales = $60,000 • ⚫ • Annual Cost of Goods Sold (COGS) = $40,000 • Inventory = $5,000 • Accounts Receivable = $3,000 • Accounts Payable = $3,200

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter21: Supply Chains And Working Capital Management

Section: Chapter Questions

Problem 3MC

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