Homework Answers
Cash conversion Cycle = Receivable days + inventory days - payable days
Cash Conversion Cycle = 65 + 70 - 46
So,
Cash Conversion Cycle = 89 days
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CH 14 Homework Send to Gradebook < Prev Next > Question 2 View Policies Current Attempt...
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CH 14 Homework Send to Gradebook < Prev Question 9 View Policies Show Attempt History Current Attempt in Progress X Your answer is incorrect. Your boss asks you to compute your company's cash conversion cycle. Looking at the financial statements, you see that the average inventory for the year was $20,400, accounts receivable averaged $16,900, and accounts payable averaged $18,900. You also see that the company had sales of $174,000 and that cost of goods sold was $139,200. Calculate firm's...
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