Homework Answers
Operating cycle = Inventory period+Account receivable period
Account receivable turnover = Sales/Average receivable
Average receivable = (146000+155000/2) = 150500
Account receivable turnover = 1402000/150500 = 9.32 times
Days sales in receivable = 365/9.32 = 39.16 days
Inventory turnover = Cost of goods sold/Average inventory
Average inventory = (149000+141000/2) = 145000
Inventory turnover = 821000/145000 = 5.66 times
Days sales in inventory = 365/5.66 = 64.49 days
Operating cycle period = 39.16+64.49 = 103.65 days
So answer is c) 103.2 days
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