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Your boss asks you to compute the company's cash conversion cycle. Looking at the financial statements, you see that the average inventory for the year was $131,300, accounts receivable were $104,900, and accounts payable were at $119,100. You also see that the company had sales of $326,000 and that cost of goods sold was $289,000. What is your firm's cash conversion cycle? Round to the nearest day.

Your boss asks you to compute the company's cash conversion cycle. Looking at the financial statements, you see that the average inventory for the year was $131,300, accounts receivable were $104,900, and accounts payable were at $119,100. You also see that the company had sales of $326,000 and that cost of goods sold was $289,000. What is your firm's cash conversion cycle? Round to the nearest day.

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
Chapter23: Other Topics In Working Capital Management
Section: Chapter Questions
Problem 3Q
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Your boss asks you to compute the company's cash conversion cycle. Looking at the financial statements, you see that the average inventory for the year was $131,300, accounts receivable were $104,900, and accounts payable were at $119,100. You also see that the company had sales of $326,000 and that cost of goods sold was $289,000. What is your firm's cash conversion cycle? Round to the nearest day.
Transcribed Image Text:Your boss asks you to compute the company's cash conversion cycle. Looking at the financial statements, you see that the average inventory for the year was $131,300, accounts receivable were $104,900, and accounts payable were at $119,100. You also see that the company had sales of $326,000 and that cost of goods sold was $289,000. What is your firm's cash conversion cycle? Round to the nearest day.
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