The following table presents selected 2020 annual income statement items and balance sheet items for Toyota Motor and Apple. All figures are in millions. Use the information to answer the questions that follow. Sales Cost of goods sold Accounts receivable. Inventory Accounts payable. Toyota ¥ 29,935,992 24,702,364 8,727,065 2,443,918 2,455,780 a. operating cycle cash conversion cycle b. cash conversion cycle conversion cycle Apple $ 283,515 178,559 25,120 a. Calculate the length of the operating cycle for Toyota and Apple. b. Calculate the length of the cash conversion cycle for Toyota and Apple. Note: Negative value should be indicated by parentheses. Round your answers to 1 decimal place. Apple Toyota days days 13,061 51,296 days days

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Connect Assignment i
k
t
3
nces
Sales.
Cost of goods sold
Accounts receivable
Inventory
Accounts payable
The following table presents selected 2020 annual income statement items and balance sheet items for Toyota Motor and Apple. All
figures are in millions. Use the information to answer the questions that follow.
Toyota
¥ 29,935,992
24,702,364
8,727,065
2,443,918
2,455,780
a. operating cycle cash conversion cycle
b. cash conversion cycle conversion cycle
Saved
a. Calculate the length of the operating cycle for Toyota and Apple.
b. Calculate the length of the cash conversion cycle for Toyota and Apple.
Note: Negative value should be indicated by parentheses. Round your answers to 1 decimal place.
Apple
Toyota
Apple
$ 283,515
178,559
25,120
13,061
51,296
days
days
Help
days
days
Save & Exit
Check
Transcribed Image Text:Connect Assignment i k t 3 nces Sales. Cost of goods sold Accounts receivable Inventory Accounts payable The following table presents selected 2020 annual income statement items and balance sheet items for Toyota Motor and Apple. All figures are in millions. Use the information to answer the questions that follow. Toyota ¥ 29,935,992 24,702,364 8,727,065 2,443,918 2,455,780 a. operating cycle cash conversion cycle b. cash conversion cycle conversion cycle Saved a. Calculate the length of the operating cycle for Toyota and Apple. b. Calculate the length of the cash conversion cycle for Toyota and Apple. Note: Negative value should be indicated by parentheses. Round your answers to 1 decimal place. Apple Toyota Apple $ 283,515 178,559 25,120 13,061 51,296 days days Help days days Save & Exit Check
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