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Item13 1.54points Time Remaining 3 hours 29 minutes 27 seconds 03:29:27 eBookHint Print References Check my workCheck My Work button is now enabled Item 13
Item13
1.54points
Time Remaining 3 hours 29 minutes 27 seconds
03:29:27eBookHint
References
Check my workCheck My Work button is now enabled
Item 13
Time Remaining 3 hours 29 minutes 27 seconds
03:29:27
Current Year | Prior Year | |||||
Accounts payable, end of year | $ | 7,463 | $ | 11,408 | ||
Accounts receivable, net, end of year | 25,945 | 17,684 | ||||
Inventory, end of year | 9,764 | 9,135 | ||||
Net sales | 178,000 | 129,000 | ||||
Cost of goods sold | 89,000 | 119,000 | ||||
(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?
Accounts payable, end of year Accounts receivable, net, end of year Inventory, end of year Net sales Cost of goods sold Current Year $ 7,463 25,945 9,764 178,000 89,000 Prior Year $ 11,408 17,684 9,135 129,000 119,000 (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.) Prior year Current year days Cash conversion cycle days Required 1 Required 2 >Step by Step Solution
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