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Quantitative Problem: Winston Inc. is trying to determine the effect of its inventory turnover ratio and days sales outstanding on its cash conversion cycle. Winston's
Quantitative Problem: Winston Inc. is trying to determine the effect of its inventory turnover ratio and days sales outstanding on its cash conversion cycle. Winston's 2017 sales (all on credit) were $116,000 and its cost of goods sold was 75% of sales. It turned over its inventory 8.6 times during the year. Its receivables balance at the end of the year was $13,182.03 and its payables balance at the end of the year was $7,398.51. Using this information calculate the firm's cash conversion cycle. Assume a 365-day year. Do not round intermediate calculations. Round your answer to one decimal place. days
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