Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter21: Supply Chains And Working Capital Management
Section: Chapter Questions
Problem 3MC
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Question
Dewey Corporation has the following data, in thousands. Assuming a 365-day year, what it the firm’s cash conversion cycle? You do not have previous year's numbers so you cannot calculate average numbers. Just use data from this year
Annual sales $45,000
Annual cost of goods sold $31,500
Inventory $4,000
Accounts receivable $2,000
Accounts payable $2,400
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