ABC Corporation currently has an Inventory Turnover of 26.99, an Accounts Receivable Turnover of 15.36, and...
ABC Corporation currently has an Inventory Turnover of 26.99, an Accounts Receivable Turnover of 15.36, and an Accounts Payable Turnover of 19.73. How many days are in the cash cycle?
Enter your answer rounded off to two decimal points.
Homework Answers
Days in the cash cycle is computed as shown below:
= Inventory days + Accounts Receivables days - Accounts payable days
= 365 / Inventory turnover ratio + 365 / Accounts receivable turnover - 365 / Accounts payable turnover
= 365 / 26.99 + 365 / 15.36 - 365 / 19.73
= 18.79 days Approximately
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