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Purple Panda Importers Corporation has forecasted sales of $28,000,000 for next year and expects its cost of goods sold (COGS) to remain at 70% of sales. Currently, the firm holds $2,700,000 in inventones, $1,800,000 in accounts receivable, and $2,500,000 in accounts payable Approximately how long does it take Purple Panda Importers to convert its raw materials to its finished products and then to sell those goods? (Note: In all calculations, assume that there are 365 days in a year) O 55.31 days O 35.20 days 50.28 days O 52.79 days On average, it takes from the time a sale is made until the time cash is collected from customers. after the firm Purple Panda Importers relies on customer credit when it buys raw materials from its suppliers. On average, it takes purchases materials before it sends cash to its suppliers, Consider the case of the Purple Panda Importers Corporation: Purple Panda Importers Corporation has forecasted sales of $28,000,000 for next year and expects its cost of goods sold (COGS) to remain at 70% of sales. Currently, the firm holds $2,700,000 in inventories, $1,800,000 in accounts receivable, and $2,500,000 in accounts payable Approximately how long does it take Purple Panda Importers to convert its raw materials to its finished products and then to sell those goods? (Not In all calculations, assume that there are 365 days in a year) O 55.31 days 17.60 days 35.20 days 23.46 days 50.28 day 25.81 days 52.79 days 26.98 days On average, it takes from the time a sale is made until the time cash is collected from customers. after the firm Purple Panda Importers relies on customer credit when it buys raw materials from its suppliers. On average, it takes purchases materials before it sends cash to its suppliers Consider the case of the Purple Panda Importers Corporation: Purple Panda Importers Corporation has forecasted sales of $28,000,000 for next year and expects its cost of goods sold (COGS) to remain at 70% of sales. Currently, the firm holds $2,700,000 in inventories, $1,800,000 in accounts receivable, and $2,500,000 in accounts payable. Approximately how long does it take Purple Panda Importers to convert its raw materials to its finished products and then to sell those goods? (Note: In all calculations, assume that there are 365 days in a year.) 55.31 days 35.20 days 50.28 days 37.25 days O 52.79 days 46.56 days 53.54 days On average it takes from the time a sale is made until the time cash is collected from customers. 55.87 days after the firm Purple Pinda Importers relies on customer credit when it buys raw materials from its suppliers. On average, it takes purchases materials before it sends cash to its suppliers
