Chapter
15 Problem 1
Pretty
Lady Cosmetic Products has an average production process time of 40 days.
Finished goods are kept on hand for an average of 15 days before they are sold.
Accounts receivable are outstanding an average of 35 days, and the firm receives
40 days of credit on its purchases from suppliers.
Estimate the average length of the
firm’s short-term operating cycle. How often would the cycle turn over in a
year?Assume net sales of $1,200,000 and cost
of goods sold of $900,000. Determine the average investment in accounts
receivable, inventories, and accounts payable. What would be the net financing
need considering only these three accounts?Chapter 16 Problem 1
A supplier is offering your firm a cash discount of 2 percent if
purchases are paid for within ten days; otherwise, the bill is due at the end
of 60 days. Would you recommend borrowing from a bank at an 18 percent annual
interest rate to take advantage of the cash discount offer? Explain your answer.
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