Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Suppose that Freddie's Fries has annual sales of $670,000; cost of goods sold of $545,000; average inventories of $26,000; average accounts receivable of $42,000, and

Suppose that Freddie's Fries has annual sales of $670,000; cost of goods sold of $545,000; average inventories of $26,000; average accounts receivable of $42,000, and an average accounts payable balance of $37,000. Assuming that all of Freddie's sales are on credit, what will be the firm's cash cycle? (Round your answer to 2 decimal places.)

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

Local Public Finance

Authors: René Geissler, Gerhard Hammerschmid, Christian Raffer

1st Edition

3030674681, 978-3030674687

More Books

Students also viewed these Finance questions