Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 3 1 pts Libscomb Technologies' annual sales are $6,273,532 and all sales are made on credit, it purchases $4,462,001 of materials each year (and
Question 3 1 pts Libscomb Technologies' annual sales are $6,273,532 and all sales are made on credit, it purchases $4,462,001 of materials each year (and this is its cost of goods sold). Libscomb also has $556,671 of inventory, $512,267 of accounts receivable, and $485,955 of accounts payable. Assume a 365 day year. What is Libscomb's Receivables Turnover? Question 4 1 pts Libscomb Technologies' annual sales are $5,820,116 and all sales are made on credit, it purchases $4,299,116 of materials each year and this is its cost of goods sold). Libscomb also has $586,462 of inventory, $1,475,000 of accounts receivable, and $1,400,000 of accounts payable. Assume a 365 day year. What is Libscomb's Receivables Period (in days)? Question 5 1 pts Libscomb Technologies' annual sales are $5,318,234 and all sales are made on credit, it purchases $3,637,187 of materials each year (and this is its cost of goods sold). Libscomb also has $507,386 of inventory, $516,502 of accounts receivable, and $481,098 of accounts payable. Assume a 365 day year. What is Libscomb's Operating Cycle (in days)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started