Question
Need homework help please! Thank you! Current YearPrior YearAccounts payable, end of year$5,123$9,068Accounts receivable, net, end of year20,00516,082Inventory, end of year7,4246,615Net sales210,000183,000Cost of goods sold123,000127,000
Need homework help please! Thank you!
Current YearPrior YearAccounts payable, end of year$5,123$9,068Accounts receivable, net, end of year20,00516,082Inventory, end of year7,4246,615Net sales210,000183,000Cost of goods sold123,000127,000
(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?
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Financial Accounting
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
8th edition
978-1118953907, 9781118953808, 1118953908, 1118953800, 978-1119491057
