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A Company shows the following balances on its comparative financial statements: 2021 2020 Inventory $10,000 $11,000 Accounts Receivable $5,300 $5,000 Accounts Payable $6,600 $6,200 The
A Company shows the following balances on its comparative financial statements: 2021 2020 Inventory $10,000 $11,000 Accounts Receivable $5,300 $5,000 Accounts Payable $6,600 $6,200 The Company generates Net Sales of $100,000 of which 85% are on credit. Cost of goods sold is $60,000. Calculate the operating and cash cycles. (Use 365 days a year. Do not round intermediate calculations. Round the final answers to 2 decimal places. Do not enter the word "days" but just the numerical answer.) Inventory turnover in days (round to 2 decimals) Receivable period in days (round to 2 decimals) Operating cycles in days (round to 2 decimals) Payables turnover in days (round to 2 decimals) The firm is financing its inventory for approximately days. (round to 2 decimals)
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