The Balance Sheet and Income Statement of Baker Dozen Inc. as of and for the twelve months ended December 31, 2015 shows the following information (in thousands):
Opening (Prior Period) and Ending balances
Accounts Receivable Opening $4,155, Ending. $4,650
Accounts Payable Opening $5,200, Ending $5,750
Inventory Opening $2,150, Ending 3,150
Sales on Credit (12months) $57,450
Cost of Goods Sold (COGS) (12 months) 45,100
QUESTION 1: Using this information, how many days were in the Inventory Conversion Period in 2015?
QUESTION 2: Utilizing the information in question 1 above for Baker Dozen Inc. in 2015 the number of days in receivable were _____?
QUESTION 3: Utilizing the information in questions 1 for Baker Dozen, what was the full cash conversion cycle for Baker Dozen in 2015? Hint: You will first need to calculate the Days Payables Outstanding.