A manufacturer reports the data below. (1) Compute the number of days in the cash conversion cycle
Question:
A manufacturer reports the data below.
(1) Compute the number of days in the cash conversion cycle for each year.
(2) Did the company manage cash more effectively in the current year?
Transcribed Image Text:
Current Year Prior Year $ 8,548 Accounts payable... Accounts receivable.. $ 4,603 18,685 15,726 Inventory... 6,904 6,055 Net sales.... 220,186 205,000 Cost of goods sold . 139,998 130,000
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