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What is the average number of days

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Question - The following data are take from the records of Apple Corporation for the year ended December 31, 2020: Net credit sales - P576,000 ; Average Materials Inventory - P8,000.00 ; Average Finished Goods Inventory - P12,000.00 ; Average Accounts Receivables - P80,000.00 ; Average Account Payable - P120,000.00 ; Net Credit Purchases - P120,000.00 ; Raw Materials Used - P96,000.00 ; Gross Profit Rate - 25%. What is the average number of days in the company's operating cash conversion cycle? (Use a 360-day year).

Reference no: EM132960952

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