LoDo, Inc.has sales of $642,000 and average accounts payable 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
Q69: The cash cycle is defined as the
Q70: A firm has an inventory turnover rate
Q71: Your firm currently has an operating cycle
Q71: Cash cycle equals:
A)inventory period plus accounts receivable
Q72: A use of cash can be determined
Q77: A firm has sales of $720,000. The
Q77: Which of the following increases cash?
A)a decrease
Q79: Which of the following decreases cash?
A)an increase
Q244: Jaxson and Sons has an inventory period
Q260: True Blue Stores had a beginning accounts
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