Use the data for Consolidated Services from E11-15A.

Requirements

1. Calculate the cash conversion cycle for Consolidated Services. Round all calculations to two decimal places. Assume all sales are on credit.

2. Comment on Consolidated Services? cash conversion cycle, assuming it was 92.45 days for the prior year.

Transcribed Image Text:

November 30 2018 2017 Current Assets: Cash. . Accounts Receivable. . Inventory. . Current Liabilities: Accounts Payable.. Accrued Liabilities... $85,000 $23,000 57,000 52,000 52,000 40,000 $41,000 $32,000 14,000 29,000