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A manufacturer reports the data below. Accounts payable Accounts receivable Inventory Net sales Cost of goods sold Current Year $ 6,163 22,645 8,464 194,000 103,000
A manufacturer reports the data below. Accounts payable Accounts receivable Inventory Net sales Cost of goods sold Current Year $ 6,163 22,645 8,464 194,000 103,000 Prior Year $ 10, 108 16,794 7.735 153,000 123,000 (1) Compute the number of days in the cash conversion cycle for each year. (2) Did the company manage cash more effectively in the current year? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the number of days in the cash conversion cycle for each year. (Use 365 days in a year. Round calculations to th nearest whole day.) Current year days Prior year days Cash conversion cycle Required 1 Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Did the company manage cash more effectively in the current year? Did the company manage cash more effectively in the current year?
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