A firm currently has receivables of $800,000, inventory of $700,000, and accounts payable of $400,000,...
80.2K
Verified Solution
Link Copied!
Question
Accounting
A firm currently has receivables of $800,000, inventory of $700,000, and accounts payable of $400,000, revenues of $6,500,000 and COGS of $3,250,000. The firms treasury manager would like to reduce the days inventory held by 5 days, solely through a reduction in inventory. What is the required change in inventory to hit this target?
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.