A company reports Cost of Goods Sold of $390,000, Ending Inventory of $49,000, Beginning Inventory of $47,000, Ending Accounts Payable of $48,000 and Beginning Accounts Payable of $27,000. What is the accounts payable turnover? (Round your final answer to two decimal places.)
A) 8.17
B) 8.13
C) 10.40
D) 10.45
Correct Answer:
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