Heritage Farms has sales of $1.62 million with costs of goods sold equal to 78...
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Accounting
Heritage Farms has sales of $1.62 million with costs of goods sold equal to 78 percent of sales. The average inventory is $369,000, accounts payable average $438,000, and receivables average $147,000. How long is the cash cycle?
a, 13.30 days
b, 13.19 days
c, 17.29 days
d, 7.54 days
e, 11.77 days
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