问题如下：
Given the following financial statement data, calculate the net operating cycle for this company.
The net operating cycle of this company is closest to:
选项：
A.0.80 days.
B.24.3 days.
C.51.7 days.
解释：
A is correct.
Number of days of inventory = [($2,000 + $1,500) / 2] / ($30,000 / 365) = 21.292 days (大家注意此处要使用 average inventory)
Number of days of receivables = $3,000/($40,000/365) = 27.375 days
Operating cycle = 21.292 + 27.375 days = 48.667 days
Purchases = $30,000 + $2,000 − $1,500 = $30,500
Number of days of payables = $4,000/($30,500/365) = 47.869 days
The net operating cycle is 48.667 − 47.869 = 0.798 days
为什么 计算purchase 的时候不考虑 AP，
- Purchse = - COGS - delta Inventory + delta Payables
=> Purchase = 30 + 0.5 - 4 = 26.5.
