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The following table presents selected 2020 annual income statement items and balance sheet items for Toyota Motor and Apple. All figures are in millions. Use
The following table presents selected 2020 annual income statement items and balance sheet items for Toyota Motor and Apple. All figures are in millions. Use the information to answer the questions that follow. Apple Sales Cost of goods sold Accounts receivable Inventory Accounts payable Toyota 31,098,245 24,692,364 $ 283,015 178,059 8,726,065 24,620 2,443,418 2,454,580 a. Calculate the length of the operating cycle for Toyota and Apple. 12,561 50,796 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. a. operating cycle cash conversion cycle b. cash conversion cycle conversion cycle Toyota days days Apple days days
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