Answered step by step
Verified Expert Solution
Link Copied!

Question

...
1 Approved Answer

PLEASE ANSWER IT IN EXCEL FORMAT Cash Conversion Cycle Negus Enterprises has an inventory conversion period of 67 days, an average collection period of 41

image text in transcribedPLEASE ANSWER IT IN EXCEL FORMAT

Cash Conversion Cycle Negus Enterprises has an inventory conversion period of 67 days, an average collection period of 41 days, and a payables deferral period of 26 days. Assume that cost of goods sold is 80% of sales. Assume a 365-day year. Do not round intermediate calculations. a. What is the length of the firm's cash conversion cycle? Round your answer to the nearest whole number. days b. If annual sales are $5,000,500 and all sales are on credit, what is the firm's investment in accounts receivable? Round your answer to the nearest dollar. $ c. How many times per year does Negus Enterprises turn over its inventory? Round your answer to two decimal places. X

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

Recommended Textbook for

Intermediate Accounting IFRS

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

3rd edition

978-1119372936

Students also viewed these Finance questions

Question

Briefly describe the idea of the dynamic programming technique.

Answered: 1 week ago