Question

Parramore Corp has $20 million of sales, $3 million of inventories, $2 million of receivables, and $2 million of payables. Its cost of goods sold is 80% of sales, and it finances working capital with bank loans at an 6% rate. Assume 365 days in year for your calculations. Do not round intermediate steps. What is Parramore's cash conversion cycle (CCC)?

Answer 1

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Explanation

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