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Suppose that Ken-Z Art Gallery has annual sales of $880,000, cost of goods sold of $570,000, average inventories of $156,000, average accounts receivable of $125,000, and an average accounts payable balance of $84,000. Assuming that all of Ken-Z s sales are on credit, what will be the firm's cash cycle days? (Use 365 days a year.)

Suppose that Ken-Z Art Gallery has annual sales of $880,000, cost of goods sold of $570,000, average inventories of $156,000, average accounts receivable of $125,000, and an average accounts payable balance of $84,000. Assuming that all of Ken-Z s sales are on credit, what will be the firm's cash cycle days? (Use 365 days a year.)

Intermediate Financial Management (MindTap Course List)
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
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Suppose that Ken-Z Art Gallery has annual sales of $880,000, cost of goods sold of $570,000, average inventories of $156,000, average accounts receivable of $125,000, and an average accounts payable balance of $84,000. Assuming that all of Ken-Z s sales are on credit, what will be the firm's cash cycle days? (Use 365 days a year.)
Transcribed Image Text:Suppose that Ken-Z Art Gallery has annual sales of $880,000, cost of goods sold of $570,000, average inventories of $156,000, average accounts receivable of $125,000, and an average accounts payable balance of $84,000. Assuming that all of Ken-Z s sales are on credit, what will be the firm's cash cycle days? (Use 365 days a year.)
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