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The following inventory and sales data are available for the current year for Rick's Company, which uses a 365-day year when computing ratios.
The following inventory and sales data are available for the current year for Rick's Company, which uses a 365-day year when computing ratios.
Rick Company's average number of days to collect accounts receivable for the current year is:
A) 20.59 days
B) 19.71 days
C) 19.43 days
D) 18.82 days
Rick Company's operating cycle for the current year is:
A) 93.09 days
B) 99.71 days
C) 70.61 days
D) 92.21 days