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I computed the current years as 67 and was incorrect. Can you please show me how to correctly get this answer? Accounts payable, end of
I computed the current years as 67 and was incorrect. Can you please show me how to correctly get this answer?
Accounts payable, end of year Accounts receivable, net, end of year Inventory, end of year Net sales Cost of goods sold Current Year $ 7,983 27,265 10,284 173,000 85,000 Prior Year $ 11,928 18,040 9,695 122,000 118,000 (1) Use the information above to compute the number of days in the cash conversion cycle for each year. (2) Did the company manage cash more effectively in the current year? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Use the information above to compute the number of days in the cash conversion cycle for each year. (Use 365 days in a year. Round calculations to the nearest whole day.) Current year Prior year 47 days Cash conversion cycle daysStep by Step Solution
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