Calculating Cycles. Consider the following financial statement information for the Keenan Corporation:
Item | Beginning |
| Ending |
Inventory | $9,582 |
| $10,380 |
Accounts receivable | 4,851 |
| 5,381 |
Accounts payable | 5,152 |
| 5,493 |
Net sales |
| $138,503 |
|
Cost of goods sold |
| 86,313 |
|
Assume all sales are on credit. Calculate the operating and cash cycles. How do you interpret your answer?
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