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FM March/June 2017 Section C question 31(Pangli Co)
Sir, in question 31 (a) (i), when calculating cash operating cycle, they use $3.5m as the figure of credit sales, but it’s the sales for 20X6. Since we are calculating cash operating cycle at the start of January 20X7, why are we using the sales figure for last year? Could you please help me out.. Thank you sir!
The receivables as at 1 Jan 20X7 are resulting from sales made before 1 Jan 20X7.
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