Cash Conversion Cycle Multiple Choice
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What is the cash conversion cycle for a firm with $3million average inventories, $1.5million average accounts payable, a receivables period of 40 days, and an annual cost of goods sold of $18 million?
a. 14.59 days
b. 46.25 days
c. 70.41 days
d. 136.25 days
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Solution Summary
The solution calculates a cash conversion cycle.
Solution Preview
Days in inventory = 3 million / 18 million * 365 days = 60.83 ...
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