Question
Given the following information, calculate the operating cycle. Use average inventory and receivables in your calculations. Credit sales = $1,000,000 Cost of goods sold =
Given the following information, calculate the operating cycle. Use average inventory and receivables in your calculations. Credit sales = $1,000,000
Cost of goods sold = $750,000
Beginning balances:
Inventory = $300,000
Accounts Receivable = $280,000
Ending balances:
Inventory = $280,000
Accounts Receivable = $250,000
Multiple Choice
- 261 days
- 116 days
- 238 days
- 141 days
- 97 days
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Foundations Of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
11th Canadian Edition
1259024970, 978-1259265921
