What will be the firm's operating cycle Suppose that James Industries has annual sales of $7.47 million,cost of goods sold of $3.95 million, average inventoriesof $1,300,000, and average accounts receivable of $690,000.Assuming that all of James's sales are on credit, what will be thefirm's operating cycle?

Concept of Operating CycleThe operating cycle is the total time a company takes to convert its…

Answered: Suppose that James Industries has…

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter22: Providing And Obtaining Credit

Section: Chapter Questions

Problem 2MC

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An analyst has obtained the following information regarding ABC, Inc. Using this information, he needs to estimate the company's Accounts Payable. Sales = $93,398Cost of Goods Sold (COGS) = $36,052Cash Cycle = 22 daysOperating Cycle = 86 daysAccounts Receivable Period = AR Period = Average Collection Period (ACP) = 40 daysWhat is the company's Accounts Payable balance?

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Suppose that James Industries has annual sales of $7.47 million, cost of goods sold of $3.95 million, average inventories of $1,300,000, and average accounts receivable of $690,000. Assuming that all of James's sales are on credit, what will be the firm's operating cycle?