Zane Corporation has an inventory conversion period of 88 days
Question: Problem 154 Cash conversion cycle Zane Corporatio…
Problem 154
Cash conversion cycle
Zane Corporation has an inventory conversion period of 88 days, an average collection period of 41 days, and a payables deferral period of 25 days. Assume 365 days in year for your calculations.
What is the length of the cash conversion cycle? Round your answer to two decimal places.
days
If Zane’s annual sales are $3,938,300 and all sales are on credit, what is the investment in accounts receivable? Round your answer to the nearest cent. Do not round intermediate calculations.
$
How many times per year does Zane turn over its inventory? Assume that the cost of goods sold is 75% of sales. Use sales in the numerator to calculate the turnover ratio. Round your answer to two decimal places. Do not round intermediate calculations.
Times steps.
$
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