Multiple Choice
The 2013 and 2014 balance sheets for Northwest Plumbing showed Cash of $6,500 and $8,000 respectively,Accounts Receivable of $15,000 and $18,000,respectively,Inventory of $12,500 and $9,500,respectively,and Accounts Payable of $5,000 and $8,000,respectively.Its 2014 Income Statement showed Net Sales of $116,000,Cost of Goods Sold of $58,000,and Net Income of $31,000.The cash conversion cycle for 2014 was (round calculations to two decimal places) :
A) 58.22 days.
B) 80.24 days.
C) 162.06 days.
D) 23.60 days.
Correct Answer:
Verified
Correct Answer:
Verified
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