What is the firms accounts payable

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Reference no: EM132991581

Question: 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 $24,800, accounts receivable averaged $22,500, and accounts payable averaged $18,100. You also see that the company had sales of $170,000 and that cost of goods sold was $136,000. 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.)

Wildhorse Handicrafts, Inc., has net sales of $3.90 million with 50 percent being credit sales. Its cost of goods sold is $2.34 million. The firm's cash conversion cycle is 54.5 days, and its operating cycle is 81.5 days. What is the firm's accounts payable? (Use 365 days for calculation. Round final answer to the nearest whole dollar, e.g. 5,275.)

Reference no: EM132991581

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