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 ¥ 31,095,245 24,602,364 8,717,065 2,438,918 2,443,780 a. operating cycle cash conversion cycle b. cash conversion cycle conversion cycle Apple $ 278,515 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. Toyota 173,559 20,120 Note: Negative value should be indicated by parentheses. Round your answers to 1 decimal place. Apple days days 8,061 46,296 days days

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
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Chapter1: Investments: Background And Issues
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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
¥31,095,245
24,602,364
8,717,065
2,438,918
2,443,780
a. operating cycle cash conversion cycle
b. cash conversion cycle conversion cycle
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
Apple
$ 278,515
173,559
20, 120
8,061
46,296
Toyota
days
days
days
days
Transcribed Image Text: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 ¥31,095,245 24,602,364 8,717,065 2,438,918 2,443,780 a. operating cycle cash conversion cycle b. cash conversion cycle conversion cycle 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 Apple $ 278,515 173,559 20, 120 8,061 46,296 Toyota days days days days
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