A company has average inventory of $12 million and COGS of $16 million. Its average accounts receivable is $2 million and it had $6 million in credit sales. Its average accounts payable is $3 million and it had $16 million in purchases. What is its CCC?
A company has average inventory of $12 million and COGS of $16 million. Its average accounts receivable is $2 million and it had $6 million in credit sales. Its average accounts payable is $3 million and it had $16 million in purchases. What is its CCC?
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter7: Analysis Of Financial Statements
Section: Chapter Questions
Problem 2P: Vigo Vacations has $200 million in total assets, $5 million in notes payable, and $25 million in...
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![A company has average inventory of $12 million and COGS of $16 million. Its average accounts receivable is $2 million and it had $6 million in credit sales. Its average accounts payable is $3 million
and it had $16 million in purchases. What is its CCC?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F25f86935-10fe-473e-8a5a-0db20259ab6d%2F4b29343f-02df-4c5e-9c33-e7d9e34a9c94%2Frrdnmv_processed.png&w=3840&q=75)
Transcribed Image Text:A company has average inventory of $12 million and COGS of $16 million. Its average accounts receivable is $2 million and it had $6 million in credit sales. Its average accounts payable is $3 million
and it had $16 million in purchases. What is its CCC?
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