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why is this wrong? Accounts payable Accounts receivable Inventory Net sales Cost of goods sold Current Year $ 8,763 29, 245 11, 064 166,000 81,000
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Accounts payable Accounts receivable Inventory Net sales Cost of goods sold Current Year $ 8,763 29, 245 11, 064 166,000 81,000 Prior Year $ 12, 708 18, 574 10,535 113,000 117,000 (1) Compute the number of days in the cash conversion cycle for each year. (2) Did the company manage cash more effectively in the current year? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the number of days in the cash conversion cycle for each year. (Use 365 days in a year. Round calculations to the nearest whole day.) Current year 49 days Prior year days Cash conversion cycleStep by Step Solution
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