Can you please give answer the general accounting question? Summit Industries has a receivables turnover rate of 10.4, a payables turnover rate of 9.6, and aninventory turnover rate of 12.8. What is the length of the firm's operating cycle?a. 45.63 daysb. 58.27 daysc. 63.62 daysd. 70.19 dayse. 85.94 days

Step 1: Define Operating CycleThe operating cycle measures the time it takes for a company to…

Answered: Summit Industries has a receivables…

Survey of Accounting (Accounting I)

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Author:Carl Warren

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Chapter9: Metric-analysis Of Financial Statements

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Summit Industries has a receivables turnover rate of 10.4, a payables turnover rate of 9.6, and an inventory turnover rate of 12.8. What is the length of the firm's operating cycle? a. 45.63 days b. 58.27 days c. 63.62 days d. 70.19 days e. 85.94 days