What is Flip's Operating Cycle?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Flip Sound System Financial Statement Data
Beginning
Item
Ending Balance
Balance
Inventory
10,650
12,813
Accounts
6,068
7,666
Receivable
Accounts
8,475
|10,981
Payable
Net Sales
99,105
Cost of Goods
Sold
59,601
What is Flip's Operating Cycle? (Round answers to 1 decimal place. Do not
round intermediate calculations)
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