Problemsuppose you are told that the cash conversion period, Ask an Expert

Accounting

Problem:

Suppose you are told that the cash conversion period (CCP) is 12.4 days for a company. Based on a 365-day year, if this company has a receivables turnover of 12x and an inventory turnover of 16.2x, determine the following:

Required:

Question 1: What is the payables turnover ratio for the company?

Question 2: If the company's average annual accounts payable?

Note: Provide support for your underlying principle.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91172123

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