Westerly Industries has the following financial information. What is its cash conversion cycle? (Hint: Use a 365-day year.)SalesCost of Goods Sold$150,000120,000Accounts Receivable46,500Inventory27,000Accounts Payable64,500The cash conversion cycle is days. (Round to two decimal places.)

The cash conversion cycle refers to the number of days required to convert the cash that is spent on…

Answered: Westerly Industries has the following…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter16: Working Capital Policy And Short-term Financing

Section: Chapter Questions

Problem 12P

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7. Desai Inc. has the following data, in thousands. Assuming a 365-day year, what is the firm's cash conversion cycle? Round to the nearest whole day. Annual sales = Annual cost of goods sold = Inventory = Accounts receivable = $45,000 $23,500 $4,500 $1,800 $2,500 Accounts payable =

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Westerly Industries has the following financial information. What is its cash conversion cycle? (Hint: Use a 365-day year.) Sales Cost of Goods Sold $150,000 120,000 Accounts Receivable 46,500 Inventory 27,000 Accounts Payable 64,500 The cash conversion cycle is days. (Round to two decimal places.)