A firm currently has receivables of $800,000, inventory of $700,000, and accounts payable of $400,000,...
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Accounting
A firm currently has receivables of $800,000, inventory of $700,000, and accounts payable of $400,000, revenues of $6,500,000 and COGS of $3,250,000. The firms treasury manager would like to reduce the days inventory held by 5 days, solely through a reduction in inventory. What is the required change in inventory to hit this target?
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