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Consider the following financial statement information for the Newk Corporation: Item Beginning Ending Inventory $ 10,800 $ 11,800 Accounts receivable 5,800 6,100 Accounts payable 8,000

Consider the following financial statement information for the Newk Corporation: Item Beginning Ending Inventory $ 10,800 $ 11,800 Accounts receivable 5,800 6,100 Accounts payable 8,000 8,400 Credit sales $ 88,000 Cost of goods sold 68,000 Calculate the operating and cash cycles.

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