What is the annual savings

Reference no: EM13279592

A firm has a cash conversion cycle of 60 days. Annual outlays are $12 million and the cost of negotiated financing is 12 percent. If the firm reduces its average age of inventory by 10 days, what is the annual savings? (use a 360 day year and remember that first, you have to calculate the daily expenditure.)

Reference no: EM13279592

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