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Consider the following financial statement information for the Hop Corporation:   Item     Beginning   Ending   Inventory     $11,600   $12,600     Accounts receivable   6,600     6,900     Accounts payable   8,800     9,200     ...

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Finance

Consider the following financial statement information for theHop Corporation:

  Item     Beginning  Ending

  Inventory     $11,600  $12,600  

  Accounts receivable   6,600    6,900  

  Accounts payable   8,800    9,200  

     Net sales  $96,000  

     Cost of goods sold  76,000  

Calculate the operating and cash cycles.

Answer & Explanation Solved by verified expert
4.4 Ratings (874 Votes)
Average Collection Period Average Collection Period Average Accounts Receivables Credit Sales per day 6600 69002 96000 365 Days 13500 2 96000 365 Days    See Answer
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