Suppose your firm receives trade credit from your suppliers which allows you 10 days to pay for the goods you buy. You flow your inventory through your firm every 30 days. You allow your customers 30 days to pay you. Your cash-to-cash cycle time is

At the end of the fiscal year, apha airlines has an outstanding non-cancellable purchase commitment for the purchase of 1 million gallons of jet fuel at a price of $4.10 per gallon for delivery during the coming summer. the company prices its inventory at the lower of cost or market. if the market price for jet fuel at the end of the year is $4.50, how would this situation be reflected in the annual financial statements?