Question
The Mennen Corporation is interested in examining its cash conversion cycle. Suppose a Mennen manager has assembled the following data for your use: $1M (M
The Mennen Corporation is interested in examining its cash conversion cycle. Suppose a Mennen manager has assembled the following data for your use: $1M (M = million) in inventory; $0.8M in account receivables (AR); $0.4M in account payables (AP); $0.15M in wages, benefits, and payroll taxes payable (WBT); $25M in sales; $10M in cost of sales (CS); and, $1.5M in selling, general, and administrative expenses (SGA).
What is the inventory conversion period (in days)?
Step by Step Solution
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Step: 1
To calculate the inventory conversion period ICP in days ...
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Business Statistics
Authors: Norean Sharpe, Richard Veaux, Paul Velleman
3rd Edition
978-0321944726, 321925831, 9780321944696, 321944720, 321944690, 978-0321925831
