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QUESTION

Suppose that LilyMac Photography has annual sales of $231,000, cost of goods sold of $166,000, average inventories of $4,600, average accounts

Suppose that LilyMac Photography has annual sales of $231,000, cost of goods sold of $166,000, average inventories of $4,600, average accounts receivable of $25,200, and an average accounts payable balance of $7,100.

Assuming that all of LilyMac's sales are on credit, what will be the firm's cash cycle? (Use 365 days a year. Do not round intermediate calculations and round your final answer to 2 decimal places.)

Cash cycle ______ days

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