Parramore Corp has $18 million of sales, $3 million of
inventories, $3 million of receivables, and $2 million of payables.
Its cost of goods sold is 70% of sales, and it finances working
capital with bank loans at an 8% rate. Assume 365 days in year for
your calculations. Do not round intermediate steps.
What is Parramore's cash conversion cycle (CCC)? Do not round
intermediate calculations. Round your answer to two decimal
places.
If Parramore could lower its inventories and...