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Your boss asks you to compute your companys cash conversion cycle. Looking at the financial statements, you see that the average inventory for the year
Your boss asks you to compute your companys cash conversion cycle. Looking at the financial statements, you see that the average inventory for the year was $26,600, accounts receivable averaged $23,200, and accounts payable averaged $13,700. You also see that the company had sales of $147,000 and that cost of goods sold was $117,600. Calculate firms cash conversion cycle. (Use 365 days for calculation. Round intermediate calculations and final answer to 1 decimal place, e.g. 15.1.)
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