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Hello Sir, For PYQ Dec 2007 Q1
part (b)
How the 18days of cost of sales us unfunded being calculated?
Thank you.
The answer is poor – it should have shown some more workings!
If you calculate the operating cycle/ working capital cycle (recb’les days+inventory days-p’bles days) it comes to 18 days.
As the answer goes on to say, this means that extra funding is needed to cover those 18 days.
Thank you so much 🙂
You are welcome 🙂