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Consider the following financial statement information for the Sourstone Corporation: Item Inventory Accounts receivable Accounts payable Net sales Cost of goods sold Beginning $11,182 6,451
Consider the following financial statement information for the Sourstone Corporation: Item Inventory Accounts receivable Accounts payable Net sales Cost of goods sold Beginning $11,182 6,451 6,752 Ending $11,980 6,981 7,093 $140,103 87,913 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.) days Operating cycle Cash cycle days
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