A manufacturer reports the data below. Accounts payable $ 10,949 ...
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Accounting
A manufacturer reports the data below.
| Accounts payable | $ 10,949 |
|---|---|
| Accounts receivable | 19,774 |
| Inventory | 6,755 |
| Net sales | 234,907 |
| Cost of goods sold | 139,500 |
(1) Compute the number of days in the cash conversion cycle. (2) Is the company more efficient at managing cash than its competitor who has a cash conversion cycle of 14 days?
Required 1
Required 2
Compute the number of days in the cash conversion cycle. (Use 365 days in a year. Round calculations to the nearest whole day.)
|
Is the company more efficient at managing cash than its competitor who has a cash conversion cycle of 14 days?
|
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