1. Beau Champ Company

The Balance Sheet and Income Statement of the Company as of and for the twelve months ended December 31, 2020 shows the following information (in thousands):

Opening (i.e., beginning of year) and Ending balances

Accounts Receivable Opening $4,155, Ending. $5,155

Accounts Payable Opening $5,200, Ending $5,834

Inventory Opening $2,000, Ending $5,000

Sales on Credit (12months) 40,757

Cost of Goods Sold (COGS) (12 months) $28,744

QUESTION: Using this information, how many days are in the Inventory Conversion Period for the year (ROUND TO WHOLE DAY IF NECESSARY)?

a. 51 days

b. 33 days

c. 40 days

d. none of the above

2. Utilizing the information in question 1 above for Beau Champ Company in 2020, calculate the number of days in receivable ... (round to closest whole number of days)?

a. 22 days

b. 28 days

c. 42 days

d. 45 days

3. Utilizing the information in question 1 for Beau Champ Company, what was the full cash conversion cycle for the company in 2019? Hint: You will first need to calculate the Days Payables Outstanding - again round to closest whole number of days.

a. 15 days

b. 4 days

c. 65 days

d. 23 days