The Polyana Shoe Store had sales last year of $50,000,000 based upon a cost of goods sold of $40,000,000. Polyana also has inventory, accounts receivable, and accounts payable of $5,000,000, $7,000,000, and $9,000,000, respectively.
-What is Polyana's average collection period?
A) .140 days
B) 7.140 days
C) 51.100 days
D) 63.875 days
Correct Answer:
Verified
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