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WORKING CAPITAL MANAGEMENT - updates in managerial accounting subj During 1939. Rand Co. purchased $959000 of inventory. The cost of goods sold for 1989 was
WORKING CAPITAL MANAGEMENT - updates in managerial accounting subj
During 1939. Rand Co. purchased $959000 of inventory. The cost of goods sold for 1989 was $900,090. and the ending inventory at December 31, 1989 was $189,090. What was the inventory turnover for 1989? Bully Corporation purchases raw materials on July 1. It converts the raw materials into inventory by September 30. However. Bully pays for the materials on July 2|]. On October 31. it sells the nished goods inventory Then, the rm collects cash from the sale 1 month later on November 39. If this sequence accurately represents the average working capital cycle. what is the rm's cash conversion cycle in daysStep by Step Solution
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