Assume that Jeanie Industries' inventory was $20,000 in 2012 and $19,000 in 2011 and cost of goods sold for 2012 was $585,000. In addition, assume that account receivables were $30,000 in 2012 and $20,000 in 2011 and credit sales were $750,000. Based on that information and an accounts payable turnover rate of 25, calculate the inventory turnover rate, accounts receivable turnover rate and the cash conversion cycle for Jeanie Industries.

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The Answer of Assume that Jeanie Industries' inventory was $20,000 in 2012 and $19,000 in 2011 and cost of goods sold for 2012 was $585,000. In addition, assume that account receivables were $30,000 in 2012 and $20,000 in 2011 and credit sales were $750,000. Based on that information and an accounts payable turnover rate of 25, calculate the inventory turnover rate, accounts receivable turnover rate and the cash conversion cycle for Jeanie Industries.

Assume That Jeanie Industries' Inventory Was $20,000 in 2012 and $19,000