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Problem 15.01 CASH CONVERSION CYCLE Parramore Corp has $20 million of sales, $2 million of inventories, $4 million of receivables, and $3 million of payables.
Problem 15.01
CASH CONVERSION CYCLE Parramore Corp has $20 million of sales, $2 million of inventories, $4 million of receivables, and $3 million of payables. Its cost of goods sold is 80% of sales, and it finances working capital with bank loans at an 8% rate. Assume 365 days in year for your calculations. Do not round intermediate steps.
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