Assignment
Please show all work for this assignment and explain your derivations. Lack of step by step work will not be credited. Partial credit will be given for step by step description of answer(s).
Calculation: In the month of January, Reliance Auto sold 60 vehicles and had account receivable of $160,000.00. If a vehicle costs $40,000, account payable is $240,000 and the cost of sales is 72%, and the current value of total inventory is $500,000.00, Calculate;
The average daily sales
The average days of accounts receivable
The average daily cost of sales
The average days of inventory
Cash to cash cycle time
Please upload a Word document using APA format for this assignment (see attached for the template). Where applicable, you must show your derivations, analysis and how you obtained the responses/answers. Use title page, in-text citations, references, appropriate font size, double spaces, etc where appropriate. Write in third person.