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Cornerstones of Financial Accounting
4th Edition
ISBN: 9781337690881
Author: Jay Rich, Jeff Jones
Publisher: Cengage Learning
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Hi experts please answer the general accounting question

Transcribed Image Text:Granite Gear Co. provided the following information. Calculate (a) the
operating cycle and (b) the cash conversion cycle:
Item
Amount
Average Inventory
$35,000
Average Accounts Receivable $40,000
Average Accounts Payable
$25,000
Sales
$240,000
Cost of Goods Sold (COGS)
$150,000
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Cornerstones of Financial Accounting
Accounting
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Cengage Learning