Joe's Merchandise had a beginning accounts payable balance of $61,800 and an ending accounts payable balance of $67,400. Sales for the period were $580,000 and costs of goods sold were $436,000. What is the payables turnover rate?

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The Answer of Joe's Merchandise had a beginning accounts payable balance of $61,800 and an ending accounts payable balance of $67,400. Sales for the period were $580,000 and costs of goods sold were $436,000. What is the payables turnover rate?

Joe's Merchandise Had a Beginning Accounts Payable Balance of $61,800