Current Year Prior Year Accounts payable, end of year $ 4,603 $ 8,548 Accounts receivable, net, end of year 18,685 15,726 Invent
ory, end of year 6,904 6,055 Net sales 220,000 205,000 Cost of goods sold 140,000 130,000 (1) Use the information above to compute the number of days in the cash conversion cycle for each year. (2) Did the company manage cash more effectively in the current year?
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