Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. winston inc. is trying to determine the effect of

Winston Inc. is trying to determine the effect of its inventory turnover ratio and days...

90.2K

Verified Solution

Question

Accounting

Winston Inc. is trying to determine the effect of its inventory turnover ratio and days sales outstanding on its cash conversion cycle. Winston's 2015 sales (all on credit) were $176,000 and its cost of goods sold was 75% of sales. It turned over its inventory 8.06 times during the year. Its receivables balance at the end of the year was $13,154.03 and its payables balance at the end of the year was $7,405.3. Using this information calculate the firm's cash conversion cycle. Do not intermediate calculations. Round your answer to the nearest whole number.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

Not only can hedging mitigate risks to the financial intermediary, but if done correctly, it is...

Physics
1.2K views

Entropy and the Sun The surface of the Sun has a temperature of 5500∘C and the...

Physics
1.2K views

Toluene liquid of volume 300 cm at 0 C is contained in a beaker and...

Geometry
1.2K views

Find the value of x 31 to 30 x 0

Basic Math
1.2K views

Maria, Sam, and Jose are standing in a triangle for the kick off of a...

Statistics
1.2K views

In the following probability distribution the random variable x represents the number of activities a...

Calculus
1.2K views

In September (30 days), the temperature in a particular city reached 100F on 24 days....

Algebra
1.2K views

Subtract 2x 7 x 3x 10 x 5 x 3x 10

Accounting
1.2K views

You are trying to calculate forecast gross profits for the next 12 months based on...

Accounting
1.2K views

On January 1, 2020, ABC Corporation had 990,000 shares of common stock outstanding. on march...

Accounting
1.2K views

1. Equipment with a list price of $90,000 is purchased; terms are 2/10, 1/30. Payment...

Accounting
1.2K views

Exercising due diligence is a requirement for paid preparers when preparing a taxpayer's return claiming...