Question
The Flower Shoppe has accounts receivable of $3,709, inventory of $4,407, accounts payable of $10,900, sales of $218,640, and cost of goods sold of $167,306.
The Flower Shoppe has accounts receivable of $3,709, inventory of $4,407, accounts payable of $10,900, sales of $218,640, and cost of goods sold of $167,306. What is the firm's "Cash Conversion Cycle" in days, assuming that all sales are on credit and a 360-day year?
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Public Finance and Public Policy
Authors: Jonathan Gruber
5th edition
1464143331, 978-1464143335
