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Category > Accounting Posted 28 May 2017 My Price 7.00

The Flamingo Corporation is trying to determine the effect of its inventory turnover ratio

 

The Flamingo Corporation is trying to determine the effect of its inventory turnover ratio and days sales outstanding (DSO) on its cash flow cycle. Last year, Flamingo’s sales (all on credit) were $180,000, and its cost of goods sold were 85 percent of sales. Inventory was turned over eight times during the year, and the accounts receivable turnover was 10. Flamingo’s payables deferral period is 30 days. (a) Calculate Flamingo’s cash conversion cycle. (b) Compute the average balances in accounts receivable, accounts payable, and inventory

 

 

 
 

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Alpha Geek
(8)
Status NEW Posted 28 May 2017 08:05 AM My Price 7.00

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Attachments

file 1495961408-2157282_1_636314830550526921_2157282.xlsx preview (59 words )
Cr-----------edi-----------t s-----------ale-----------s [-----------A]C-----------ost----------- of----------- go-----------ods----------- so-----------ld -----------% [-----------B]I-----------nve-----------nto-----------ry -----------tur-----------nov-----------er -----------[C]-----------Acc-----------oun-----------ts -----------Rec-----------eiv-----------abl-----------es -----------tur-----------nov-----------er -----------[D]-----------Acc-----------oun-----------ts -----------Pay-----------abl-----------es -----------Day-----------s [-----------E]C-----------ost----------- of----------- go-----------ods----------- so-----------ld -----------[F]----------- = -----------[A]-----------*[B-----------]Da-----------ys -----------Inv-----------ent-----------ory----------- ou-----------tst-----------and-----------ing----------- [G-----------] =----------- 36-----------5 /----------- [C-----------]Da-----------ys -----------Rec-----------eiv-----------ale-----------s o-----------uts-----------tan-----------din-----------g [-----------H] -----------= 3-----------65 -----------/ [-----------D]C-----------ash----------- co-----------nve-----------rsi-----------on -----------cyc-----------le -----------[I]----------- = -----------[G]----------- + -----------[H]----------- - -----------[E]-----------Ave-----------rag-----------e I-----------nve-----------nto-----------ry -----------[F]----------- / -----------[C]-----------Ave-----------rag-----------e A-----------cco-----------unt-----------s R-----------ece-----------iva-----------ble-----------s [-----------A] -----------/ [-----------D]A-----------ver-----------age----------- Ac-----------cou-----------nts----------- Pa-----------yab-----------les----------- [F-----------] /----------- [E-----------] -----------
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