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The following table presents selected 2020 annual income statement items and balance sheet items for figures are in millions. Use the information to answer the
The following table presents selected 2020 annual income statement items and balance sheet items for figures are in millions. Use the information to answer the questions that follow. Sales Cost of goods sold Accounts receivable Inventory Accounts payable Toyota 29,931,992 24,582,364 8,715,065 a. operating cycle cash conversion cycle b. cash conversion cycle conversion cycle 2,437,918 2,441,380 a. Calculate the gth of the operating cycle for Toyota and Apple. b. Calculate the length of the cash conversion cycle for Toyota and Apple. Note: Negative value should be indicated by parentheses. Round your answers to 1 decimal place. Apple 40.1 days (56.0) days Apple $ 277,515 172,559 19,120 7,061 45,296 Toyota 142.5 days 106.2 days
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