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Consider the following financial statement information for the Newk Corporation: Item Beginning Ending Inventory $ 11,500...

Consider the following financial statement information for the Newk Corporation: Item Beginning Ending Inventory $ 11,500 $ 12,500 Accounts receivable 6,500 6,800 Accounts payable 8,700 9,100 Credit sales $ 95,000 Cost of goods sold 75,000 Calculate the operating and cash cycles.

(Use 365 days a year. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

Operating cycle _ days

Cash cycle _ days

(I know that Operating cycle is 83.94 days.... But Cash cycle was wrong last time I asked and they gave me 40.02 days)

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