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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 $ 6,163
Accounts payable, end of year Accounts receivable, net, end of year Inventory, end of year 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) 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. 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.) 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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