During the past year, Omni, Inc. had total credit sales of $1,000,000. Omni's cost of sales averaged 70% of credit sales, it had average accounts receivable of $124,500, and it always paid its payables according to the required net 30 schedule. Inventory averaged $184,000 for the year. Using this information, compute the length of the five different cycles/periods discussed in the text that trace inventory from purchase to collection of the account.

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The Answer of During the past year, Omni, Inc. had total credit sales of $1,000,000. Omni's cost of sales averaged 70% of credit sales, it had average accounts receivable of $124,500, and it always paid its payables according to the required net 30 schedule. Inventory averaged $184,000 for the year. Using this information, compute the length of the five different cycles/periods discussed in the text that trace inventory from purchase to collection of the account.

During the Past Year, Omni, Inc