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What is the firm's cash conversion cycle? Direct Furnishings Inc. has the following data: begin{tabular}{|l|cc|} hline Annual sales & $11,000,000.00 hline Cost of goods
What is the firm's cash conversion cycle? Direct Furnishings Inc. has the following data: \begin{tabular}{|l|cc|} \hline Annual sales & $11,000,000.00 \\ \hline Cost of goods sold & $ & 6,000,000.00 \\ \hline Inventory & $ & 2,455,000.00 \\ \hline Accounts receivable & $ & 1,643,000.00 \\ \hline Accounts payable & $1,000,000.00 \\ \hline \end{tabular}
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