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Consider the following common-size financial statements: Note: Every B/S item is divided by TA; and, every I/S item is divided by Sales. B/S A/R 25%

Consider the following common-size financial statements: Note: Every B/S item is divided by TA; and, every I/S item is divided by Sales. B/S A/R 25% Inventory 8% A/P 20% I/S Sales 100% CGS 40% Purchases 40% Asset turnover (ATO) = 1.5. Assume 360 days in a year. Calculate the cash conversion cycle and comment on your results.

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