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Consider the following financial statement information for the Newk Corporation: Item Beginning Ending Inventory $ 11,100 $ 12,100 Accounts receivable 6,100 6,400 Accounts payable 8,300
Consider the following financial statement information for the Newk Corporation: |
Item | Beginning | Ending | |||||||
Inventory | $ | 11,100 | $ | 12,100 | |||||
Accounts receivable | 6,100 | 6,400 | |||||||
Accounts payable | 8,300 | 8,700 | |||||||
Credit sales | $ | 91,000 | |||||||
Cost of goods sold | 71,000 | ||||||||
Calculate the operating and cash cycles. (Use 365 days a year. Do not round intermediate calculations and round your answers to 2 decimal places |
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