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Accounts payable, end of year Accounts receivable, net, end of year Inventory, end of year Net sales Cost of goods sold Current Year $ 6,423
Accounts payable, end of year Accounts receivable, net, end of year Inventory, end of year Net sales Cost of goods sold Current Year $ 6,423 23,305 8,724 191,000 100,000 Prior Year $ 10,368 16,972 8,015 147,000 122,000 (1) Use the information above to 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 Use the information above to 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.) Prior year Current year days Cash conversion cycle days 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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