Stratosphere Wireless is examining its cash conversion cycle. The company expects its cost of goods sold, which equals 60 percent of sales, to be $648,000 this year. Stratosphere normally turns over inventory 24 times per year, accounts receivable is turned over 18 times per year, and the accounts payable turnover is 36. Assume there are 360 days in a year.
Calculate the cash conversion cycle. Round your answer to the nearest whole number.
days
Calculate the average balances in accounts receivable, accounts payable, and inventory. Round your answers to the nearest dollar.
Accounts receivable: $
Accounts payable: $
Inventory: $