EBK CONTEMPORARY FINANCIAL MANAGEMENT
EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN: 9781337514835
Author: MOYER
Publisher: CENGAGE LEARNING - CONSIGNMENT
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Question: Suppose that LilyMac Photography has annual sales of $240,000, cost of goods sold of $175,000, average inventories of $5,500, average accounts receivable of $27,000, and an average accounts payable balance of $18,200. Assuming that all of LilyMac's sales are on credit, what will be the firm's cash cycle? (Use 365 days a year. Do not round intermediate calculations and round your final answer to 2 decimal places.)
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Transcribed Image Text:Question: Suppose that LilyMac Photography has annual sales of $240,000, cost of goods sold of $175,000, average inventories of $5,500, average accounts receivable of $27,000, and an average accounts payable balance of $18,200. Assuming that all of LilyMac's sales are on credit, what will be the firm's cash cycle? (Use 365 days a year. Do not round intermediate calculations and round your final answer to 2 decimal places.)
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EBK CONTEMPORARY FINANCIAL MANAGEMENT
Finance
ISBN:9781337514835
Author:MOYER
Publisher:CENGAGE LEARNING - CONSIGNMENT
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