Vantage Systems has an inventory conversion period of 60 days, a receivables collection period of 32 days,
Question:
a. What is the length of the firm's cash conversion cycle?
b. If Vantage's annual sales are $9,700,000 and all sales are on credit, what is the firm's investment in accounts receivable?
c. How many times per year does Vantage turn over its inventory? Cash Conversion Cycle
Cash conversion cycle measures the total time a business takes to convert its cash on hand to produce, pay its suppliers, sell to its customers and collect cash from its customers. The process starts with purchasing of raw materials from suppliers,...
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a b Average sales per day 9700000365 26575 Invest...View the full answer
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Related Book For 
Financial Management Theory and Practice
ISBN: 978-0176517304
2nd Canadian edition
Authors: Eugene Brigham, Michael Ehrhardt, Jerome Gessaroli, Richard Nason
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