Hello teacher please help me this question Suppose that LilyMac Photography has annual sales of $221,000,cost of goods sold of $156,000, average inventories of $6,400,average accounts receivable of $28,800, and an average accountspayable balance of $19,100. Assuming that all of LilyMac's salesare on credit, what will be the firm's cash cycle? (Use 365 days ayear. Do not round intermediate calculations. Round your finalanswer to 2 decimal places.)

Step 1: Define Cash Conversion CycleThe cash conversion cycle of a firm is the time taken by the…

Answered: Suppose that LilyMac Photography has…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter17: The Management Of Cash And Marketable Securities

Section: Chapter Questions

Problem 2P

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