Answered step by step
Verified Expert Solution
Question
1 Approved Answer
25. Direct Furnishings Inc. has the following data: Annual sales $10,000,000 Cost of goods sold 6,000,000 Inventory 2,547,945 Accounts receivable 1,643,836 Accounts payable 1,200,000. Calculate
25. Direct Furnishings Inc. has the following data:
Annual sales $10,000,000
Cost of goods sold 6,000,000
Inventory 2,547,945
Accounts receivable 1,643,836
Accounts payable 1,200,000.
Calculate the firms cash conversion cycle (CCC) in days. (Assume it is a 365-day year)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started