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Negus Enterprises has an inventory conversion period of 53 days, an average collection period of 47 days, and a payables
Posted: Thu Apr 28, 2022 1:38 pm
by answerhappygod
- Negus Enterprises Has An Inventory Conversion Period Of 53 Days An Average Collection Period Of 47 Days And A Payables 1 (61.97 KiB) Viewed 20 times
Negus Enterprises has an inventory conversion period of 53 days, an average collection period of 47 days, and a payables deferral period of 23 days. Assume that cost of goods sold is 80% of sales. Assume a 365-day year. Do not round intermediate calculations. a. What is the length of the firm's cash conversion cycle? Round your answer to the nearest whole number. 1 days b. If annual sales are $4,380,000 and all sales are on credit, what is the firm's investment in accounts receivable? Round your answer to the nearest dollar. $ $ c. How many times per year does Negus Enterprises turn over its inventory? Round your answer to two decimal places. Х