Difference in investment per dollar of sales in inventory


Multiple changes in cash conversion cycle Garrett Industries turns over its inventory 6 times each year; it has an average collection period of 45 days and an average payment period of 30 days. The firm's annual sales are $3 million. Assume there  is no difference in the investment per dollar of sales in inventory, receivables, and payables; and a 365-day year.

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Accounting Basics: Difference in investment per dollar of sales in inventory
Reference No:- TGS040787

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