Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Nike Company has the following financial data for 2021, inventory turnover of 10, accounts receivable turnover of 12, cost of goods sold of $1.2M and
Nike Company has the following financial data for 2021, inventory turnover of 10, accounts receivable turnover of 12, cost of goods sold of $1.2M and accounts payable of $150K. The cash conversion cycle is?
A. 45.6 days
B. 10 days
C. 21.3 days
D. 91.2 days
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started