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Suppose that Tucker Industries has annual sales of $6.70 million, cost of goods sold of $2.95 million, average inventories of $1,210,000, and average accounts receivable of $670,000. Assuming that all of Tucker's sales are on credit, what will be the firm's operating cycle?

Suppose that Tucker Industries has annual sales of $6.70 million, cost of goods sold of $2.95 million, average inventories of $1,210,000, and average accounts receivable of $670,000. Assuming that all of Tucker's sales are on credit, what will be the firm's operating cycle?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Suppose that Tucker Industries has annual sales of $6.70 million, cost of goods sold of $2.95 million, average inventories of $1,210,000, and average accounts receivable of $670,000. Assuming that all of Tucker's sales are on credit, what will be the firm's operating cycle?
Transcribed Image Text:Suppose that Tucker Industries has annual sales of $6.70 million, cost of goods sold of $2.95 million, average inventories of $1,210,000, and average accounts receivable of $670,000. Assuming that all of Tucker's sales are on credit, what will be the firm's operating cycle?
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