The following table presents selected 2020 annual income statement items and balance sheet items for...
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Finance
The following table presents selected 2020 annual income statement items and balance sheet items for Toyota Motor and Apple. All gures are in millions. Use the information to answer the questions that follow.
Toyota
Apple
Sales
31,096,245
$ 280,015
Cost of goods sold
24,632,364
175,059
Accounts receivable
8,720,065
21,620
Inventory
2,440,418
9,561
Accounts payable
2,447,380
47,796
Calculate the length of the operating cycle for Toyota and Apple.
Calculate the length of the cash conversion cycle for Toyota and Apple.
Note: Negative value should be indicated by parentheses. Round your answers to 1 decimal place.
Toyota
Apple
A. Operating cycle cash conversion cycle
___Days
___Days
B. Cash conversion cycle conversion cycle
___Days
___Days
Answer & Explanation
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