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Cyree Inc. has annual sales of $80,000,000, its cost of goods sold is 80% of sales, its average ...

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Cyree Inc. has annual sales of $80,000,000, its cost of goods sold is 80% of sales, its average ...

Cyree Inc. has annual sales of $80,000,000, its cost of goods sold is 80% of sales, its average inventory is $20,000,000, and its average accounts receivable is $16,000,000. The firm buys all raw materials on terms of net 35 days, and it pays on time. The firm is searching for ways to shorten the cash conversion cycle. If sales can be maintained at existing levels while lowering average inventory by $4,000,000 and average accounts receivable by $2,000,000, by how many days would the cash conversion cycle be changed? Use a 365-day year.

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27.4

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28.7

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31.9

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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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Thanks for your help!!

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Brilliant ツ

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You make an excellent tutor!

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