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You were recently hired as CFO to improve the performance of Dennis Systems, which is highly ...

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You were recently hired as CFO to improve the performance of Dennis Systems, which is highly ...

You were recently hired as CFO to improve the performance of Dennis Systems, which is highly profitable but has been experiencing cash shortages due to its high rate of growth. As one part of your analysis, you want to determine the firm’s cash conversion cycle. Using the following information and a 365-day year, what is the firm’s present cash conversion cycle?

Average inventory	$120,000
Annual sales	$600,000
Average accounts receivable	$160,000
Average accounts payable	$25,000
Total annual purchases	$365,000

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145.3

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152.6

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174.2

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192.3

Textbook

Financial Management: Theory and Practice

Edition: 4^th

Authors: Brigham, Ehrhardt, Gessaroli, Nason

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More solutions for this book are available here

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I appreciate what you did here, answered it right Smiling Face with Open Mouth

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