1. OK Technologies’ annual sales are $5,000,000 and it purchases $3,400,000 of materials each year (and this is its cost of...
1. OK Technologies’ annual sales are $5,000,000 and it purchases $3,400,000 of materials each year (and this is its cost of goods sold). OK Tech also has $550,000 of inventory, $525,000 of accounts receivable, and $450,000 of accounts payable. Based on a 365 day year, what is the length of OK Tech’ cash conversion cycle?
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