Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Libscomb Technologies' annual sales are $6,280,779 and all sales are made on credit, it purchases $3,838,166 of materials each year (and this is its cost

image text in transcribed
Libscomb Technologies' annual sales are $6,280,779 and all sales are made on credit, it purchases $3,838,166 of materials each year (and this is its cost of goods sold). Libscomb also has $525,245 of inventory, $563,051 of accounts receivable, and $415,470 of accounts payable. Assume a 365 day year. What is Libscomb's Operating 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

A Guide To Starting Your Hedge Fund

Authors: John Thompson, Erik Serrano Berntsen

1st Edition

0470519401, 978-0470519400

More Books

Students also viewed these Finance questions

Question

What are keywords in the context of conversation control?

Answered: 1 week ago

Question

Consistently develop management talent.

Answered: 1 week ago

Question

Create a refreshed and common vision and values across Europe.

Answered: 1 week ago

Question

Provide the best employee relations environment.

Answered: 1 week ago