Utilizing the information in question 1 for Charlie Company, what was the full cash conversion cycle for the company in 2018?

Charlie Company

The Balance Sheet and Income Statement of Charlie Company as of and for the twelve months ended December 31, 2018 shows the following information (in thousands):

Opening (Prior Period) and Ending balances

Accounts Receivable Opening $4,155, Ending. $5,155

Accounts Payable Opening $5,200, Ending $5,750

Inventory Opening $2,150, Ending 4,150

Sales on Credit (12months) $42,450

Cost of Goods Sold (COGS) (12 months) 31,500

Utilizing the information in question 1 for Charlie Company, what was the full cash conversion cycle for the company in 2018? Hint: You will first need to calculate the Days Payables Outstanding - again round to closest whole number of days.

A 10 days

B 4 days

C 65 days

D 13 days

Expert Solution

jeff jeffy answered 2 years ago

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