Question
A manufacturer reports the data below. Current Year Prior Year Accounts payable Accounts receivable Inventory Net sales Cost of goods sold $ 6,423 23,305
A manufacturer reports the data below. Current Year Prior Year Accounts payable Accounts receivable Inventory Net sales Cost of goods sold $ 6,423 23,305 8,724 191,000 100,000 $ 10,368 16,972 8,015 147,000 122,000 (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 the nearest whole day.) Cash conversion cycle Current year days Prior year days < Required 1 Required 2 > (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 Did the company manage cash more effectively in the current year? Did the company manage cash more effectively in the current year? < Required 1 Required 2 >
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