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Consider the following financial statement information for the Newk Corporation: Item Beginning $10,900 5,900 8,100 Ending $11,900 6,200 8,500 Inventory Accounts receivable Accounts payable $89,000
Consider the following financial statement information for the Newk Corporation: Item Beginning $10,900 5,900 8,100 Ending $11,900 6,200 8,500 Inventory Accounts receivable Accounts payable $89,000 69,000 Credit sales Cost of goods sold Calculate the operating and cash cycles. (Use 365 days a year. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) 85.10 days Operating cycle Cash cycle days
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