Question
XYZ Company has annual sales of $771,263. The cost of goods sold are $421,152. The firm has an accounts receivable balance of $12,019, an accounts
XYZ Company has annual sales of $771,263. The cost of goods sold are $421,152. The firm has an accounts receivable balance of $12,019, an accounts payable balance of $8,648 and inventory of $36,926.
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.
Enter your answer rounded off to two decimal points.
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To calculate the cash conversion cycle we need to determine the number of days it takes for the ...
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Auditing Cases An Interactive Learning Approach
Authors: Mark S Beasley, Frank A. Buckless, Steven M. Glover, Douglas F Prawitt
7th Edition
0134421825, 9780134421827
