LoDo has sales of £642,000 and average trade payables of £36,400.The cost of goods sold is equivalent to 65% of sales.How long does it take LoDo to pay its suppliers?
A) 11.46 days.
B) 13.45 days.
C) 20.69 days.
D) 26.18 days.
E) 31.85 days.
Correct Answer:
Verified
Q70: A firm has an inventory turnover rate
Q73: Stoney Brooke has sales of £890,000 and
Q74: Baker Industries has a 45 day trade
Q74: Wislon has an inventory turnover rate of
Q74: Your firm has sales of $628,000 and
Q75: Martinque and Son have a 60 day
Q77: Bilt Rite has sales of £610,000.The cost
Q78: Dokos has a beginning receivables balance on
Q81: Pluto has a beginning cash balance of
Q94: A firm currently has a 43 day
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents