Dewey Corporation has the following data, in thousands. Assuming a 365-day year
Dewey Corporation has the following data, in thousands. Assuming a 365-day year, what is the firm’s cash conversion cycle?
Annual sales = $55,000
Annual cost of goods sold = $38,500
Inventory = $4,000
Accounts receivable = $2,000
Accounts payable = $2,400
Answer
36 days
21 days
28 days
27 days
24 days
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