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What will be the additional investment in working capital of a company that currently sells $2,880,000 and expects sales for the following fiscal year of
What will be the additional investment in working capital of a company that currently sells $2,880,000 and expects sales for the following fiscal year of $3,600,000 if its accounts receivable turnover policy is 6 times a year and its inventory policy is it 12 times a year? Cost of sales represents 60% of sales. Consider a year of 360 days. a.$156,000 b.$636,000 C$624,000 d. $1,152,000
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