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Snatch and Grabbit Ltd makes sales of $1.0 million per day and the cost of goods sold for these sales is $0.4 million. As at
Snatch and Grabbit Ltd makes sales of $1.0 million per day and the cost of goods sold for these sales is $0.4 million. As at the date of the company's annual report, the company has the following account balances, which are typical of the balances throughout the year: Inventory of $16 million, Accounts Payable of $11 million and Accounts Receivable of $22 million. 1. What is the length of the firm's cash conversion cycle in days? days (Enter to 2 decimal places)
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