Question
Suppose that LilyMac Photography has annual sales of $317,000, cost of goods sold of $157,000, average inventories of $3,700, and average accounts receivable of $24,200.
Suppose that LilyMac Photography has annual sales of $317,000, cost of goods sold of $157,000, average inventories of $3,700, and average accounts receivable of $24,200. Assume that all of LilyMacs sales are on credit. What will be the firms operating cycle? (Use 365 days a year. Do not round intermediate calculations and round your final answer to 2 decimal places.)
Operating cycle 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
The Complete Direct Investing Handbook
Authors: Kirby Rosplock
1st Edition
1119094712, 978-1119094715
