Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

28 . Suppose that Lily Mac Photography has annual sales of $218 000 cost of goods sold of $123, 100 , average inventories of $1

image text in transcribed
image text in transcribed
28 . Suppose that Lily Mac Photography has annual sales of $218 000 cost of goods sold of $123, 100 , average inventories of $1 250 , and average accounts receivable of $22 ,100 . Assuming that all of Lily Mac's sales are on credit , what will be the firm's operating cycle ? A . 40.54 days B. 45 13 days C . 41 .16 days D. 37 82 days

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

College Accounting A Practical Approach

Authors: Jeffrey Slater, Brian Zwicker

12th Canadian edition

133133230, 978-0133133233

More Books

Students also viewed these Accounting questions

Question

Then the value of ???? is (a) 18 (b) 92 (c)910 (d) 94 (e)32

Answered: 1 week ago

Question

=+a) What were the subjects?

Answered: 1 week ago

Question

What reward will you give yourself when you achieve this?

Answered: 1 week ago