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Business, 23.08.2021 22:30 aide1234564

Winston Inc. is trying to determine the effect of its inventory turnover ratio and days sales outstanding on its cash conversion cycle. Winston's 2017 sales (all on credit) were $184,000 and its cost of goods sold was 75% of sales. It turned over its inventory 8.69 times during the year. Its receivables balance at the end of the year was $13,150.80 and its payables balance at the end of the year was $7,417.95. Using this information calculate the firm's cash conversion cycle. Assume a 365-day year.

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