Given the following financial statement information,
a. Calculate the Operating Cycle.
b. Calculate the Cash Cycle.
Item Beginning Ending Inventory $8,732 $9,418 Accounts Receivable 3,721 4,162 Accounts Payable 4,384 4,791 Net Sales $138,503 Cost of Goods Sold 86,313 For computing turnover ratios, use average balances and a 365-day year.