Problem: Consider the following financial statement information for the Rivers Corporation:
|
Item
|
Beginning
|
Ending
|
|
Inventory
|
$10,600
|
$11,600
|
|
Accounts receivable
|
5,600
|
5,900
|
|
Accounts payable
|
7,800
|
8,200
|
|
Net sales
|
$86,000
|
|
|
Cost of goods sold
|
66,000
|
|
Required: Calculate the operating and cash cycles.
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