Question
Strickler Technology is considering changes in its working capital policies to improve its cash flow cycle. Strickler's sales last year were $3,740,000 (all on credit),
Strickler Technology is considering changes in its working capital policies to improve its cash flow cycle. Strickler's sales last year were $3,740,000 (all on credit), and its net profit margin was 5%. Its inventory turnover was 5.5 times during the year, and its DSO was 41 days. Its annual cost of goods sold was $2,200,000. The firm had fixed assets totaling $650,000. Strickler's payables deferral period is 44 days. Assume a 365-day year. Do not round intermediate calculations.
Calculate Strickler's cash conversion cycle. Do not round intermediate calculations. Round your answer to two decimal places.
Answer: __________________________
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