Question - Louie Corporation has provided the following data:
Year 2 Year 1
Accounts receivable $269,000 $290,000
Inventory $190,000 $160,000
Sales, on account $1,340,000
Cost of goods sold $860,000
The company's operating cycle for Year 2 is closest to: (Round your intermediate calculations to 2 decimal places.)
81.0 days
150.5 days
79.2 days
9.7 days