Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Camp Manufacturing turns over its inventory 5 times each year, has an average payment period of 3 1 days , and has an average collection
Camp Manufacturing turns over its inventory times each year, has an average payment period of days and has an average collection period of days. The firm has annual sales of $ million and cost of goods sold of $ million.Use aday year.
a Camp's operating cycle, OC is
enter your response here days.Round to the nearest whole number.
Part
Camps cash conversion cycle, CCC is
enter your response here days.Round to the nearest whole number.
Part
bThe dollar value of inventory held by the firm is $
enter your response here.Round to the nearest dollar.
Part
cIf the firm could reduce the average age of its inventory from days to days it would reduce its dollar investment in working capital by $
enter your response here. Round to the nearest dollar.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started