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Suppose that Freddie's Fries has annual sales of $620,000; cost of goods sold of $495,000; average inventories of $21,000; average accounts receivable of $37,000, and average accounts payable balance of $32,000. Assuming that all of Freddie's sales are on credit, what will be the firm's cash cycle? (Round your answer to 2 decimal places.) a. 37.26. b. 60.86. c. 1.82. d. 13.66.

Suppose that Freddie's Fries has annual sales of $620,000; cost of goods sold of $495,000; average inventories of $21,000; average accounts receivable of $37,000, and average accounts payable balance of $32,000. Assuming that all of Freddie's sales are on credit, what will be the firm's cash cycle? (Round your answer to 2 decimal places.) a. 37.26. b. 60.86. c. 1.82. d. 13.66.

EBK CONTEMPORARY FINANCIAL MANAGEMENT
EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter3: Evaluation Of Financial Performance
Section: Chapter Questions
Problem 8P
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Suppose that Freddie's Fries has annual sales of $620,000; cost of goods sold of $495,000; average inventories of $21,000; average accounts receivable of $37,000, and average accounts payable balance of $32,000. Assuming that all of Freddie's sales are on credit, what will be the firm's cash cycle? (Round your answer to 2 decimal places.) a. 37.26. b. 60.86. c. 1.82. d. 13.66.
Transcribed Image Text:Suppose that Freddie's Fries has annual sales of $620,000; cost of goods sold of $495,000; average inventories of $21,000; average accounts receivable of $37,000, and average accounts payable balance of $32,000. Assuming that all of Freddie's sales are on credit, what will be the firm's cash cycle? (Round your answer to 2 decimal places.) a. 37.26. b. 60.86. c. 1.82. d. 13.66.
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