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During the past year, Omni, Inc. had total credit sales of $900,000. Omni's cost of goods sold averaged 70% of credit sales, it had average
During the past year, Omni, Inc. had total credit sales of $900,000. Omni's cost of goods sold averaged 70% of credit sales, it had average accounts receivable of $124,500, and average accounts payable of $50,000. Inventory averaged $184,000 for the year. Assume 365 days in a year. Using this information, compute the operating cycle and cash cycle.
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