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Calculate firm cash conversion cycle

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Your boss asks you to compute your company's cash conversion cycle. Looking at the financial statements, you see that the average inventory for the year was $23,400, accounts receivable averaged $17,200, and accounts payable averaged $15,700. You also see that the company had sales of $169,000 and that cost of goods sold was $135,200. Calculate firm's cash conversion cycle. (Use 365 days for calculation. Round intermediate calculations and final answer to 1 decimal place, e.g. 15.1.)

Reference no: EM132406800

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