Zocco Corporation has an inventory conversion period of 87 days, an average coll

Question

Zocco Corporation has an inventory conversion period of 87 days, an average collection period of 27 days, and a payables deferral period of 47 days. Assume 365 days in year for your calculations.

If Zocco's annual sales are $2,882,280 and all sales are on credit, what is the investment in accounts receivable? $213209.75

How many times per year does Zocco turn over its inventory? Assume that cost of goods sold is 75% of sales. Round your answer to two decimal places. _________ times (I calculated and got 4.19 or 4.20, both are wrong)

Explanation / Answer

2,882,280/365x27= 213209.75 365/87= 4.195

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