Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 1 5 pts Libscomb Technologies' annual sales are $5,656,422 and all sales are made on credit, it purchases $3,247,942 of materials each year (and

image text in transcribed

Question 1 5 pts Libscomb Technologies' annual sales are $5,656,422 and all sales are made on credit, it purchases $3,247,942 of materials each year (and this is its cost of goods sold). Libscomb also has $526,940 of inventory, $510,864 of accounts receivable, and beginning and ending of year $414,214 and $487,897 accounts payables (respectively). Assume a 365 day year. What is Libscomb's Cash Cycle (in days)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Investments

Authors: Zvi Bodie, Alex Kane, Alan Marcus, Stylianos Perrakis, Peter

8th Canadian Edition

007133887X, 978-0071338875

More Books

Students also viewed these Finance questions

Question

What is meant by the present bias?

Answered: 1 week ago

Question

relate the principles of discipline in the union environment

Answered: 1 week ago