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Consider the following financial statement information for the Sourstone Corporation: Item Beginning Ending Inventory $7,203 $9,041 Accounts Receivable 3,069 3,995 Accounts Payable 3,617 4,599 Net
Consider the following financial statement information for the Sourstone Corporation:
Item Beginning Ending
Inventory $7,203 $9,041
Accounts Receivable 3,069 3,995
Accounts Payable 3,617 4,599
Net Sales $95,982
Cost of Goods Sold 59,814
Assume all sales are on credit. Calculate the operating and cash cycles. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16)
Operating Cycles _________ Days
Cash Cycle ____________Days
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