Exercise 9-21 (Static) Cash conversion cycle LO A4 A manufacturer reports the data below. ...
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Accounting
Exercise 9-21 (Static) Cash conversion cycle LO A4
A manufacturer reports the data below.
| Accounts payable | $ 9,049 |
|---|---|
| Accounts receivable | 17,874 |
| Inventory | 4,855 |
| Net sales | 233,007 |
| Cost of goods sold | 137,600 |
(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?
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