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The Following Information Is Reported by Acme Corporation What Is Acme Corporation's Average Operating Cycle as a Percentage

question 41

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The following information is reported by Acme Corporation.  Cost of goods sold $350,000 Average inventory balance 35,000 Average accounts receivable balance 65,000 Sales (all on account) 325,000 Average accounts payable balance 45,000 Operating expenses (excluding depreciation) 500,000 Purchases 40,000\begin{array}{lr}\text { Cost of goods sold } & \$ 350,000 \\\text { Average inventory balance } & 35,000 \\\text { Average accounts receivable balance } & 65,000 \\\text { Sales (all on account) } & 325,000 \\\text { Average accounts payable balance } & 45,000 \\\text { Operating expenses (excluding depreciation) } & 500,000 \\\text { Purchases } & 40,000\end{array} What is Acme Corporation's average operating cycle as a percentage of the year?

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