What is your firm's cash conversion cycle? Your manager asks you to compute the company's cashconversion cycle. Looking at the financial statements,you see that the average inventory for the year was$215,500, accounts receivable were $172,600, andaccounts payable were at $198,300. You also see thatthe company had sales of $547,000 and that cost ofgoods sold was $382,000. What is your firm's cashconversion cycle? Round to the nearest day.

Note:Cash conversion cycle measures how long does it take for a company to buy inventory, sell it,…

Answered: Your manager asks you to compute the…

Financial Reporting, Financial Statement Analysis and Valuation

8th Edition

ISBN:9781285190907

Author:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Publisher:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Chapter5: Risk Analysis

Section: Chapter Questions

Problem 5QE

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