Consider the following financial statement information for the Newk Corporation: Beginning $ 10,382 Ending $ 11,180 6,181 6,293 Item Inventory Accounts receivable Accounts payable Net sales Cost of goods sold 5,651 5,952 $ 139,303 87,113 Assume all sales are on credit. Calculate the operating and cash cycles. Note: Do not round intermediate calculations and round your answers to 2 decimal pl

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Consider the following financial statement information for the Newk Corporation:
Beginning
$10,382
Ending
$ 11,180
6,181
6,293
Item
Inventory
Accounts receivable
Accounts payable
Net sales.
Cost of goods sold
5,651
5,952
Operating cycle
Cash cycle
$ 139,303
87,113
Assume all sales are on credit. Calculate the operating and cash cycles.
Note: Do not round intermediate calculations and round your answers to 2 decimal pla
2.19 days
days
Transcribed Image Text:Consider the following financial statement information for the Newk Corporation: Beginning $10,382 Ending $ 11,180 6,181 6,293 Item Inventory Accounts receivable Accounts payable Net sales. Cost of goods sold 5,651 5,952 Operating cycle Cash cycle $ 139,303 87,113 Assume all sales are on credit. Calculate the operating and cash cycles. Note: Do not round intermediate calculations and round your answers to 2 decimal pla 2.19 days days
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