Given the following information,calculate the payables turnover and days' payable.Round answers to two decimal places.

$\begin{array} { l r } \text { Net sales } & \$ 10,000,000 \\\text { Cost of goods sold } & 8,321,000 \\\text { Operating expenses } & 3,000,000 \\\text { Inventory increase } & 125,000 \\\text { Accounts payable, beginning } & 1,617,000 \\\text { Accounts payable, ending } & 1,415,000\end{array}$

a. Payables turnover
b. Days' payable

Question

Given the following information,calculate the payables turnover and days' payable.Round answers to two decimal places.

\begin{array} { l r } \text { Net sales } & \$ 10,000,000 \\\text { Cost of goods sold } & 8,321,000 \\\text { Operating expenses } & 3,000,000 \\\text { Inventory increase } & 125,000 \\\text { Accounts payable, beginning } & 1,617,000 \\\text { Accounts payable, ending } & 1,415,000\end{array}

a. Payables turnover
b. Days' payable

Quizplus · Accepted Answer

The Answer of Given the following information,calculate the payables turnover and days' payable.Round answers to two decimal places. $$\begin{array} { l r } \text { Net sales } & \$ 10,000,000 \ \text { Cost of goods sold } & 8,321,000 \ \text { Operating expenses } & 3,000,000 \ \text { Inventory increase } & 125,000 \ \text { Accounts payable, beginning } & 1,617,000 \ \text { Accounts payable, ending } & 1,415,000 \end{array}$$ a. Payables turnover b. Days' payable

Given the Following Information,calculate the Payables Turnover and Days' Payable