Bundle: Essentials of Business Communication, 11th + MindTap Business Communication, 1 term (6 months) Printed Access Card
11th Edition
ISBN: 9781337736312
Author: Mary Ellen Guffey, Dana Loewy
Publisher: Cengage Learning
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Chapter 6, Problem 6.14AAC
Summary Introduction
To Determine:
A claim letter for a malfunctioning product or service received from a bank, restaurants, online merchant, etc.
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A sandwich shop sells its sandwiches for $7.50 each.
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Q-Tip Devices is evaluating changes to its working capital strategy to optimize its cash conversion cycle. Q-Tip's sales last year were $150,000 (all on credit), and it earned a net profit of 8%. Its inventory turnover was 6.25 times during the year, and its Days Sales Outstanding (DSO) was 28 days. The annual cost of goods sold was $135,000. The firm had fixed assets totaling $30,000. Q-Tip's payables deferral period is 36 days. Assume 365 days in a year for calculations. Do not round intermediate steps. Calculate Q-Tip's cash conversion cycle. Round your final answer to two decimal places.
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Bundle: Essentials of Business Communication, 11th + MindTap Business Communication, 1 term (6 months) Printed Access Card
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