Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

XYZ Company has annual sales of $ 7 4 2 , 1 8 9 . The cost of goods sold are $ 4 0 3

XYZ Company has annual sales of $742,189. The cost of goods sold are $403,918. The firm has an accounts receivable balance of $19,946, an accounts payable balance of $24,322 and inventory of $37,747 What is the lengh of time between paying for materials and collecting on receivables ? That is, what is the cash conversion cycle? Assume 365 days

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Wall Street Journal Complete Personal Finance Guidebook

Authors: Jeff D. Opdyke

1st Edition

030733600X, 978-0274804573

More Books

Students also viewed these Finance questions