Question
Charlie Company The Balance Sheet and Income Statement of Charlie Company as of and for the twelve months ended December 31, 2016 shows the following
Charlie Company The Balance Sheet and Income Statement of Charlie Company as of and for the twelve months ended December 31, 2016 shows the following information (in thousands): Opening (Prior Period) and Ending balances Accounts Receivable Opening $4,155, Ending. $4,650 Accounts Payable Opening $5,200, Ending $5,750 Inventory Opening $2,150, Ending 3,150 Sales on Credit (12months) $47,450 Cost of Goods Sold (COGS) (12 months) 35,100
Utilizing the information in question 1 for Charlie Company, what was the full cash conversion cycle for the company in 2016? Hint: You will first need to calculate the Days Payables Outstanding - again round up to whole number of days.
|
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