Problemzocco corporation has an inventory conversion period, Ask an Expert

Accounting

Problem:

Zocco Corporation has an inventory conversion period of 69 days, an average collection period of 37 days, and a payables deferral period of 35 days. Assume there are 365 days in a year for your calculations.

Required:

Question: How many times per year does Zocco turn over its inventory? Assume that cost of goods sold is 75% of sales.

Note: Please answer in proper manner and show all computations

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91168234

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