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You have recently been hired to improve the performance of Multiplex Corporation, which has been...

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Accounting

You have recently been hired to improve the performance of Multiplex Corporation, which has been experiencing a severe cash shortage. As one part of your analysis, you want to determine the firms cash conversion cycle. Using the following information and a 365-day year, what is your estimate of the firms current cash conversion cycle? Current inventory = $120,000. Annual sales = $600,000. Accounts receivable = $157,808. Accounts payable = $25,000. Total annual purchases = $365,000. Purchases credit terms: net 30 days. Receivables credit terms: net 50 days.

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