A Co, a biotechnology company, reported cost of goods sold of $345.2 million and trade payables of $121.6 million for 2013. In 2012, cost of goods sold was $300.8 million and trade payable was $103.9 million. What was A Co's trade payables turnover ratio in 2013?

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The trade payables turnover ratio is calculated as Cost of Goods Sold divided by Average Trade Payables. For 2013, the average trade payables is ($121.6 million + $103.9 million) / 2 = $112.75 million. The turnover ratio is $345.2 million / $112.75 million = 3.06.

A Co, a Biotechnology Company, Reported Cost of Goods Sold