The answer for B is NOT 386829.29 or what
is 386850.81 turn over ration is NOT 4.39 or 4.40
Homework Answers
Answer a.
Cash Conversion Cycle = Inventory Conversion Period + Average
Collection Period - Payable Deferral Period
Cash Conversion Cycle = 83 + 33 - 40
Cash Conversion Cycle = 76 days
Answer b.
Average Collection Period = 365 * Accounts Receivable / Annual
Sales
33 = 365 * Accounts Receivable / $4,278,570
Accounts Receivable = $386,829.62
Answer c.
Inventory Conversion Period = 365 / Inventory Turnover
83 = 365 / Inventory Turnover
Inventory Turnover = 4.40 times
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