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12.3 question 5: Libscomb Technologies' annual sales are $6,589,975 and all sales are made on credit, it purchases $3,699,377 of materials each year (and this
12.3 question 5:
Libscomb Technologies' annual sales are $6,589,975 and all sales are made on credit, it purchases $3,699,377 of materials each year (and this is its cost of goods sold). Libscomb also has $586,942 of inventory, $547,948 of accounts receivable, and $450,841 of accounts payable. Assume a 365 day year.
What is Libscombs Operating Cycle (in days)?
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