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Suppose that SunsetLens Studio has annual sales of $345,000, cost of goods sold of $248,000, average inventories of $12,400, average accounts receivable of $41,500, and an average accounts payable balance of $27,800. Assuming that all of SunsetLens's sales are on credit, what will be the firm's cash cycle? (Use 365 days a year. Do not round intermediate calculations. Round your final answer to 2 decimal places.)

Suppose that SunsetLens Studio has annual sales of $345,000, cost of goods sold of $248,000, average inventories of $12,400, average accounts receivable of $41,500, and an average accounts payable balance of $27,800. Assuming that all of SunsetLens's sales are on credit, what will be the firm's cash cycle? (Use 365 days a year. Do not round intermediate calculations. Round your final answer to 2 decimal places.)

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 SunsetLens Studio has annual sales of $345,000, cost of goods sold of $248,000, average inventories of $12,400, average accounts receivable of $41,500, and an average accounts payable balance of $27,800. Assuming that all of SunsetLens's sales are on credit, what will be the firm's cash cycle? (Use 365 days a year. Do not round intermediate calculations. Round your final answer to 2 decimal places.)
Transcribed Image Text:Suppose that SunsetLens Studio has annual sales of $345,000, cost of goods sold of $248,000, average inventories of $12,400, average accounts receivable of $41,500, and an average accounts payable balance of $27,800. Assuming that all of SunsetLens's sales are on credit, what will be the firm's cash cycle? (Use 365 days a year. Do not round intermediate calculations. Round your final answer to 2 decimal places.)
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