New England Automotive manufactures after- market automobile parts that are sold in a variety of...
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Accounting
New England Automotive manufactures after- market automobile parts that are sold in a variety of outlets including auto parts stores and discount retailers. The following account data (in millions) have been taken from a recent balance sheet:
Current Assets
Cash
$20
Accounts Receivable
280
Finished Goods Inventory
50
Work in Process Inventory
340
Raw Material Inventory
180
Current Liabilities
Accounts Payable$44
Other14
Discuss recommendations that New England Automotive managers could use to improve its cash position. Focus your discussion on the operating cycle rather than on other means of raising cash.
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