Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Parramore Corp has $ 2 0 million of sales, $ 1 million of inventories, $ 2 , 2 5 million of receivables, and $ 1

Parramore Corp has $20 million of sales, $1 million of inventories, $2,25 million of receivables, and $1.75 million of payables. It's cost of goods sold is 65%, and it finances working capital with bank loans at an 8% rate. Assume 365 days in year for your calculations.
What is Parramore's cash conversion cycle (CCC)? Do not round intermediate calculations. Round your answer to two decimal places.
If Parramore could lower its inventories,
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Finance questions

Question

What are the objectives of Human resource planning ?

Answered: 1 week ago

Question

Explain the process of Human Resource Planning.

Answered: 1 week ago