Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Libscomb Technologies' annual sales are $5,151,127 and all sales are made on credit, it purchases $3,936,421 of materials each year (and this is its cost

Libscomb Technologies' annual sales are $5,151,127 and all sales are made on credit, it purchases $3,936,421 of materials each year (and this is its cost of goods sold). Libscomb also has $525,839 of inventory, $532,456 of accounts receivable, and beginning and ending of year $456,751 and $450,111 accounts payables (respectively). Assume a 365 day year.

What is Libscombs Cash Cycle (in days)?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Management Principles And Applications

Authors: Sheridan Titman

9th Edition

0655705457, 9780655705451

More Books

Students also viewed these Finance questions

Question

Do not come to the conclusion too quickly

Answered: 1 week ago

Question

Engage everyone in the dialogue

Answered: 1 week ago