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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 Toyota 28,737,780 24,622,364 $ 279,515 Cost of goods sold 174,559 21, 120 Accounts receivable 8,719,065 Inventory 2,439,918 9,061 47,296 Accounts payable 2,446,180 a. Calculate the length 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. Toyota Apple a. operating cycle cash conversion cycle days b. cash conversion cycle conversion cycle days days days
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