Compute the number of days in the cash conversion cycle for each year. Note: Use 365 days in a year. Round calculations to the nearest whole day.)A manufacturer reports the data below. Current Year Prior Year Accounts payable $ 6,943 $ 10,888 Accounts receivable 24,625 17,328 Inventory 9,244 8, 575 Net sales 184,000 137,000 Cost of goods sold 94,000 120,000 (1) Compute the number of days in the cash conversion cycle for each year. (2) Did the company manage cash more effectively in the current year? Compute the number of days in the cash conversion cycle for each year. Note: Use 365 days in a year. Round calculations to the nearest whole day.) Cash conversion cycle Current year days Prior year days

Compute the number of days in the cash conversion cycle for each year. Note: Use 365 days in a year. Round calculations to the nearest whole day.)A manufacturer reports the data below. Current Year Prior Year Accounts payable $ 6,943 $ 10,888 Accounts receivable 24,625 17,328 Inventory 9,244 8, 575 Net sales 184,000 137,000 Cost of goods sold 94,000 120,000 (1) Compute the number of days in the cash conversion cycle for each year. (2) Did the company manage cash more effectively in the current year? Compute the number of days in the cash conversion cycle for each year. Note: Use 365 days in a year. Round calculations to the nearest whole day.) Cash conversion cycle Current year days Prior year days

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 11P: Negus Enterprises has an inventory conversion period of 50 days, an average collection period of 35...

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